New York, Sept. 14 - Vertex Pharmaceuticals, Inc. priced an upsized follow-on offering of 9.1 million shares at $33.00 each, discounted slightly from Thursday's $33.52 close.
The deal was originally planned at 8 million shares.
However the greenshoe was reduced to 900,000 shares from 1.2 million.
Merrill Lynch & Co. was bookrunner for the off-the-shelf sale.
Morgan Stanley was joint lead manager and UBS Investment Bank co-manager.
Cambridge, Mass.-based Vertex is principally focused on viral diseases, inflammation, autoimmune diseases, cancer, pain and bacterial infection. Vertex co-discovered the HIV protease inhibitor Lexiva with GlaxoSmithKline plc.
Proceeds are slated for development, manufacturing, acquisitions and general corporate purposes.
Vertex stock (Nasdaq: VRTX) had been at $34.82 at Monday's close, before the deal was announced.
| Issuer: | Vertex Pharmaceuticals, Inc.
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| Issue: | Follow-on stock offering
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| Amount: | $300.3 million
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| Shares: | 9.1 million
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| Greenshoe: | 900,000 shares
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| Price: | $33.00
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| Bookrunner: | Merrill Lynch & Co.
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| Pricing date: | Sept. 14, after close
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| Stock symbol: | Nasdaq: VRTX
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| Stock price: | $33.52 at close Sept. 14
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