Intercept Pharmaceuticals announces pricing of public offering
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04 Apr 2014
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Intercept Pharmaceuticals, Inc., a clinical stage biopharmaceutical company focused on the development and commercialization of novel bile acid therapeutics to treat chronic liver and intestinal diseases, today announced the pricing of its previously announced underwritten public offering of 1,000,000 shares of its common stock at a public offering price of USD 320 per share. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 150,000 shares of common stock. In the offering, 600,000 shares were sold by Intercept, with net proceeds to Intercept of approximately USD 183.3 million, after deducting underwriting discounts and commissions and estimated offering expenses, and 400,000 shares were sold by certain institutional selling stockholders. Intercept will not receive any proceeds from the sale of shares of common stock by the selling stockholders. The offering is expected to close on or about April 9, 2014, subject to customary closing conditions. BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co. and Deutsche Bank Securities are acting as joint book-running managers and underwriters for the offering. BMO Capital Markets is acting as lead manager and Needham & Company, LLC, Oppenheimer & Co., Wedbush PacGrow Life Sciences, JMP Securities LLC and Summer Street Research Partners are acting as co-managers. |
| Source: Dion Global Type: IPO Related |
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