By Ronda Fears
Memphis, March 22 - A secondary offering of 10.5 million shares of Endo Pharmaceuticals Holdings Inc. priced at $32.20 each, discounted from the closing level of $33.28 on Tuesday, via bookrunner Bear Stearns & Co. Inc.
The biggest selling stockholder in the spot offering was Endo Pharma LLC, an affiliate of the private equity investment firm Kelso & Co., with a small portion of the deal including shares from management and directors. After the deal, Endo Pharma LLC will hold less than 1.0% of Endo's outstanding common stock.
Endo, which has about 133 million shares outstanding, will receive no proceeds from the sale.
Chadds Ford, Pa.-based Endo focuses on painkillers, both branded and generic. Its products include Lidoderm, Percocet, Percodan, OxyContin, Frova and Synera as well as the generic oxycodone hydrochloride Endocet, and a pipeline portfolio including Oxymorphone, Rapinyl and Transdermal Sufentanil Patch in various stages of clinical development, along with several other pain drugs.
| Issuer: | Endo Pharma LLC and other selling stockholders
|
| Reference stock: | Endo Pharmaceuticals Holdings, Inc.
|
| Issue: | Secondary stock offering
|
| Proceeds: | $338.1 million
|
| Shares: | 10,510,108 shares
|
| Price: | $32.20 per share
|
| Bookrunner: | Bear Stearns & Co. Inc.
|
| Pricing date: | March 21
|
| Settlement date: | March 27
|
| Stock symbol: | Nasdaq: ENDP
|
| Stock price: | $33.28 at close March 21
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
