Joint bookrunners Jefferies, BMO and Piper Jaffray conducted offering
By Devika Patel
Knoxville, Tenn., June 30 – Amphastar Pharmaceuticals, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $8.4 million greenshoe in full for total proceeds of $40.88 million. The deal included a $23.52 million secondary sale and priced for $32.48 million with the greenshoe on June 25.
The company sold 5.84 million common shares at $7.00 per share. Of the shares, 1.2 million were part of the fully exercised greenshoe. In addition, 3.36 million shares were sold by shareholders.
Jefferies LLC, BMO Capital Markets Corp. and Piper Jaffray & Co. were the joint bookrunning managers.
Proceeds will be used for product development, working capital and other general corporate purposes, as well as potential acquisitions.
Rancho Cucamonga, Calif.-based Amphastar is a generic and specialty pharmaceutical company that focuses on injectable and inhalation products. It expects its shares to trade on the Nasdaq under the symbol “AMPH.”
| Issuer: | Amphastar Pharmaceuticals, Inc.
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| Issue: | Common stock
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| Amount: | $40.88 million (including $8.4 million greenshoe)
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| Shares: | 5.84 million
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| Price: | $7.00
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| Warrants: | No
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| Bookrunners: | Jefferies LLC, BMO Capital Markets Corp. and Piper Jaffray & Co.
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| Co-manager: | Needham & Co., LLC
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Stock symbol: | Nasdaq: AMPH
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