New Issue: ViroPharma sells $150.75 million in upsized follow-on at $16.75, discounted from $17.45 close

By Ronda Fears

Nashville, Dec. 7 - ViroPharma Inc. priced an upsized follow-on offering of 9 million shares, boosted from 7 million, of common stock off the shelf at $16.75 per share, discounted from Tuesday's closing level of $17.45, via bookrunner Goldman Sachs & Co.

An over-allotment option for an additional 1.35 million shares is available.

Exton, Pa.-based ViroPharma plans to use proceeds for working capital and general corporate purposes. The company said it also may use a portion of proceeds to repay or prepay all or a portion of its 6% subordinated convertible notes due March 2007 and for business development purposes.

Issuer:	ViroPharma Inc.
Issue:	Follow-on stock offering
Proceeds:	$150.75 million
Net proceeds:	$142 million
Shares:	9 million shares, up from 7 million
Greenshoe:	1.35 million shares, up from 1,050,000
Price:	$16.75 per share
Bookrunner:	Goldman Sachs & Co.
Joint lead manager:	Piper Jaffray & Co.
Co-managers:	SG Cowen & Co. and Lazard Capital Markets
Pricing date:	Dec. 7
Settlement date:	Dec. 12
Ticker:	VPHM
Stock price:	$17.45 at close Dec. 6

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.