Supernus greenshoe exercised, lifts 7.5% convertibles to $90 million

By Tali David

Minneapolis, May 6 - Underwriters for Supernus Pharmaceuticals Inc.'s 7.5% convertible senior secured notes due 2019 offering fully exercised their over-allotment option, adding an additional $15 million, according to a press release.

The company priced $75 million of the convertibles on April 25. The issue size is now $90 million.

The deal was sold via joint bookrunners Jefferies & Co. and Piper Jaffray & Co.

Proceeds will be used to repay a secured credit facility, to fund commercialization of the company's approved and tentatively approved drugs, Oxtellar XR and Trokendi XR, to develop its pipeline products and for general corporate purposes.

Supernus is a Rockville, Md.-based specialty pharmaceutical company focusing on treatment of central nervous system diseases, including epilepsy.

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