Idenix underwriters exercise greenshoe option, raising deal to 9.35 million shares

By Angela McDaniels

Seattle, Nov. 28 - Idenix Pharmaceuticals Inc. said the underwriters of its public offering exercised the 1,130,387 share over-allotment option in full on Nov. 14, raising the size of the deal to 9,350,914 shares.

The greenshoe shares were sold by company stockholders at the public offering price of $20.61 each.

Idenix did not receive any proceeds from the over-allotment option exercise or the 942,507 shares sold by stockholders in the original offering, the company said.

Morgan Stanley & Co. Inc. was bookrunner with Bear, Stearns & Co. Inc. as co-lead manager.

The company priced an upsized follow-on offering of 7,278,020 shares on Oct. 25 with a secondary sale of 942,507 shares sold by stockholders.

Cambridge, Mass.-based Idenix develops drugs for viral and other infectious diseases such as hepatitis B, hepatitis C and HIV.

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