Vanda greenshoe exercised, raising IPO to $59.64 million

By Lisa Kerner

Erie, Pa., April 21 - Vanda Pharmaceuticals Inc. said the underwriters of its initial public offering partially exercised their over-allotment option to purchase an additional 214,188 shares of its common stock, bringing the size of the deal to 5,964,188 shares, or $59.64 million.

Vanda originally priced an initial public offering of 5.75 million common shares on April 12 at $10 per share for proceeds of $57.5 million. The greenshoe was for 862,500 shares.

J.P. Morgan Securities Inc. and Banc of America Securities LLC were joint bookrunners for the offering, with Thomas Weisel Partners LLC as co-manager.

Located in Rockville, Md., Vanda is a biopharmaceutical company developing clinical-stage product candidates for central nervous system disorders.

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