InterMune greenshoe ups 2.5% convertibles due 2017 to $120.75 million

By Toni Weeks

San Diego, Jan. 22 - Underwriters for InterMune Inc.'s offering of 2.5% convertible bonds due 2017 fully exercised their over-allotment option for the notes on Jan. 16, lifting total proceeds to $120.75 million, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company priced $105 million of the convertibles with a greenshoe of $15.75 million via joint bookrunners Goldman Sachs & Co. and J.P. Morgan Securities LLC on Jan. 16.

The company concurrently priced an offering of shares at $9.90 each. It offered 13.5 million common shares with a 12.5-million-share greenshoe, which was also fully exercised on Jan. 16, bringing gross proceeds to $153.7 million.

Brisbane, Calif.-based InterMune is a biotech company focused on treatments for pulmonary, infectious and hepatic diseases.

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