Aratana looks to raise more than $40 million in third public offering

Courtesy of Tony Alter/Flickr
Aratana develops therapeutics to meet the medical needs of pets. | Courtesy of Tony Alter/Flickr

Aratana Therapeutics Inc., an animal health company based in Kansas City, Kan., said it plans to offer 4.5 million shares of its common stock at $9.25 a share to raise about $41.6 million.

Aratana intends to use its third public stock offering to expand its commercial infrastructure to account for future product launches. The money could also be used to develop its existing business and technology and to purchase new technologies.

Aratana’s first public offering was in June 2012, when it 5.75 million shares valued at $6 each. The company’s second offering of common stock contained 5 million shares trading at $19 each.

Read more from the Kansas City Business Journal

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