Aegerion Pharmaceuticals, Inc. said Friday that that the underwriters of its initial public offering have used their over-allotment option to purchase an additional 750,000 of the company's common shares.
The pharmaceutical company conducted an IPO of 5 million shares at $9.50 each. Including the underwritiers' option, the company's IPO netted proceeds of about $48.8 million, after deducting expenses.
The joint book-running managers of the initial public offering were Leerink Swann LLC and Lazard Capital Markets LLC. The co-managers were Needham & Company, LLC, Canaccord Genuity Inc. and Collins Stewart LLC.
Aegerion, based in Bridgewater, N.J., is developing a drug that treats a rare disorder that causes severe high cholesterol. The company has said it plans on using proceeds to pay back debt and fund development of a new cholesterol drug.
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