Share offerings, $200 million refinancing, drug approvals.
Lakeland Bancorp Inc., in the Oak Ridge section of Jefferson, announced Tuesday it will sell 1.98 million shares of its common stock to such investors at a price of $9.65 per share in a registered direct offering. The bank also announced that it has commenced an underwritten public offering of 621,762 shares of its common stock. Lakeland intends to proceeds from both offerings to redeem $25 million of junior subordinated debentures.
HFF, with offices in Florham Park, announced that it has arranged a $200 million refinancing for Newport Tower, a 1.1 million-square-foot, class A office tower in Jersey City. HFF worked exclusively on behalf of MEPT Newport Tower LLC, a subsidiary of Multi-Employer Property Trust, to secure the seven-year, 3.5 percent fixed-rate loan through Prudential Mortgage Capital Co.
The FDA announced Wednesday two decisions pertaining to drugs developed under Johnson & Johnson’s Raritan-based subsidiary, Janssen. The FDA granted priority review to Zytiga, a prostate cancer drug, and approved a supplemental new drug application for Nucynta ER, for the management of neuropathic pain in patients with diabetes.