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Retrophin announces plans to price public offering of stock
Leerink Partners, Deutsche Bank Securities are underwriters
By Angela McDaniels
Tacoma, Wash., March 16 – Retrophin, Inc. plans to sell up to 5.1 million shares of common stock in a public offering with a 15% over-allotment option.
Leerink Partners LLC and Deutsche Bank Securities Inc. are the underwriters, according to a 424B5 filing with the Securities and Exchange Commission.
The offering is expected to settle before the end of the month.
The company’s shares closed at $14.76 (Nasdaq: RTRX) on Friday. At that price, the offering proceeds would be $75.28 million, or $86.57 million with the greenshoe.
Proceeds will be used to fund research and development, acquisitions or investments in additional complementary businesses, products and technologies and for general corporate purposes, including working capital.
Retrophin is a biopharmaceutical company based in San Diego, Calif., focused on the development, acquisition and commercialization of therapies for the treatment of serious, catastrophic or rare diseases.
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