Amgen said it plans to raise an estimated $140 million by issuing new stock and by selling limited partnership units to the public.
The Newbury Park biotechnology concern said it filed a registration statement with the Securities and Exchange Commission for 2 million new common shares, half to be sold domestically and half overseas.
Amgen said that it now has about 14 million shares outstanding, and that the new shares should raise $65 million to $70 million. The proceeds will be used for working capital and for expanding production facilities near its headquarters, the company said.
Amgen also recently signed a letter of intent to raise an estimated $75 million through the public sale of limited-partnership units to finance clinical testing of new pharmaceuticals.