ARTICLE | Finance

Blech raises more money

April 25, 1994 7:00 AM UTC

Blech raises more money New York investor David Blech continued his fund-raising activities last week, selling 4.5 million shares of Bio-Technology General Corp. to institutional investors at $2.375 on Friday. The price was a 17 percent discount to the Thursday close.

The sale raised $10.7 million for Blech, who the previous week raised about $10.4 million through the sale of almost 2.8 million shares of NeoRx Corp. after rumors circulated about his need for cash and the level of capital resources at D. Blech & Co. ...