By Ronda Fears
Nashville, July 22 - Momenta Pharmaceuticals Inc. raised $130.5 million in gross proceeds with an upsized follow-on offering of 4.83 million shares of common stock at $27.02 per share, even with Thursday's closing price.
Morgan Stanley was sole bookrunner of the off-the-shelf secondary offering, which was boosted from 4 million shares.
Cambridge, Mass.-based Momenta focuses on the sequencing and engineering of complex sugars used for the development of improved versions of existing drugs and for the development of novel drugs.
The company plans to use proceeds for general corporate purposes, including research and development, potential acquisitions and manufacturing.
| Issuer: | Momenta Pharmaceuticals Inc.
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| Issue: | 4,827,300 shares, up from 4 million
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| Greenshoe: | 724,095, up from 600,000
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| Gross proceeds: | $130.5 million
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| Price: | $27.02 per share
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| Bookrunner: | Morgan Stanley
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| Joint lead manager: | Deutsche Bank Securities
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| Co-managers: | Banc of America Securities and SG Cowen
|
| Pricing date: | July 21
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| Closing date: | July 28
|
| Symbol: | MNTA
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