On April 23, 2013, Navidea completed a public offering of 2,100,000 shares of the Company's common stock at a price of $2.43 per share less underwriting discounts and commissions (the April 2013 Offering). The net proceeds to the Company were approximately $4.8 million after deducting expenses associated with the April 2013 Offering. The Company will use the net proceeds from the April 2013 Offering to fund the clinical development and launch of its current drug products, to fund other potential product pipeline opportunities, and for general corporate purposes. The April 2013 Offering was underwritten by Ladenburg Thalmann & Co. Inc. and was made pursuant to the Company's existing effective shelf registration statement on Form S-3.