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Labopharm greenshoe exercised, lifts stock sale to $101.2 million
By Lisa Kerner
Erie, Pa., May 3 - Labopharm Inc. said the underwriters of its public offering of shares exercised the 1.65 million share over-allotment option in full, raising the size of the deal to 12.65 million shares for $101.2 million.
Labopharm originally fixed the terms of the offering at $8.00 per share on April 27.
Net proceeds from the sale are $93.3 million.
Merrill Lynch & Co. and Banc of America Securities LLC acted as joint lead managing bookrunners and were joined by Canaccord Capital Corp., Leerink Swann & Co., Orion Securities Inc., Dundee Securities Corp. and Westwind Partners Inc.
Laval, Quebec-based Labopharm is a specialty pharmaceutical company.
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