Morgan Stanley, JPMorgan, Leerink Swann and Stifel assist with sale
By Devika Patel
Knoxville, Tenn., Feb. 12 - Ophthotech Corp. said it priced its $59.85 million initial public offering of stock. The deal was announced Aug. 15.
The company will sell 1.9 million common shares at $31.50 apiece.
Existing stockholders will also sell 385,714 shares.
There is a $10.8 million greenshoe.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunning managers.
Settlement is expected Feb. 18.
Proceeds will be used for clinical trials and development, working capital and other general corporate purposes.
The biopharmaceutical company is based in New York. It intends to list its common stock on the Nasdaq under the symbol "OPHD."
| Issuer: | Ophthotech Corp.
|
| Issue: | Common stock
|
| Amount: | $59.85 million
|
| Greenshoe: | $10.8 million
|
| Shares: | 1.9 million
|
| Price: | $31.50
|
| Warrants: | No
|
| Bookrunners: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC
|
| Co-managers: | Leerink Partners and Stifel
|
| Announcement date: | Aug. 15
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 18
|
| Stock exchange: | Nasdaq: OPHT
|
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