|
|
Article: Other News To Note.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Adams Respiratory Therapeutics Inc., of Chester, N.J., said Merrill Lynch & Co., Morgan Stanley, Deutsche Bank Securities and RBC Capital Markets, the underwriters of its recent initial public offering, exercised in full their overallotment option to buy about 1.2 million shares at $17 each. The exercise of the option increases the size of the IPO to about 9.1 million shares, of which 6.9 million were sold by Adams and 2.25 million were sold by selling shareholders. Net proceeds to Adams are expected to be about $106.6 million. Adams will use proceeds to build its Mucinex brand, to fund product development, and for potential acquisitions and product in-licensing.
...