Gentium greenshoe partially exercised, lifting ADS offering to $24.3 million

By Jennifer Chiou

New York, July 27 - Gentium SpA said the underwriters exercised the greenshoe for 300,000 of the 360,000 American Depositary Share total size, raising its offering by $2.7 million to $24.3 million.

Gentium said co-managers Maxim Group LLC and I-Bankers Securities Inc. have now purchased 2.7 million ADS.

The company originally priced 2.4 million ADS on June 15, downsized from 2.7 million shares, for $9.00 each, which ranked in the low end of the $9.00 to $11.00 price range.

The greenshoe had also been downsized to 360,000 from 405,000 ADS.

Based in Villa Guardia, Como, Italy, Gentium is a biopharmaceutical company focused on the research, discovery and development of drugs derived from DNA extracted from natural sources and drugs, which are synthetic oligonucleotides for vascular diseases and conditions related to cancer.

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