Accentia Biopharmaceuticals lowers IPO to 2.5 million shares from 5.25 million

By Ted A. Knutson

Washington, Sept. 2 - Accentia Biopharmaceuticals lowered its planned initial public offering of common stock to 2.5 million shares from 5.25 million in an amendment to its S-1 filing with the Securities and Exchange Commission.

The greenshoe was lowered to 375,000 shares from 937,500 shares.

The moves by the developmental respiratory and oncology drug company cut estimated proceeds for the firm to $17.8 million to $20.9 million from $41.2 million to $49.0 million.

Tampa, Fla.-based Accentia left the price talk unchanged at $8 to $10 per share.

Additionally, the company announced PPD International Holdings, Inc. would not be selling 1 million shares as previously planned.

Jefferies & Co., Ferris, Baker Watts, Stifel Nicolaus & Co. and GunnAllen Financial are the underwriters. Robert W. Baird & Co. has left as an underwriter. GunnAllen was added to the list of underwriters, according to the latest SEC filing.

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