New Issue: Adolor raises $125 million in follow-on at $25, discounted from $25.19 close

By Ronda Fears

Memphis, Feb. 16 - Adolor Corp. priced a follow-on offering of 5 million shares of common stock off the shelf at $25.00 per share, discounted from Wednesday's closing level of $25.19, via bookrunner Lehman Brothers Inc.

Exton, Pa.-based Adolor, which concentrates of pain medications, plans to use proceeds for general corporate purposes, which may include increasing its working capital, acquisitions, in-licensing of products or technologies and capital expenditures.

Issuer:	Adolor Corp.
Issue:	Follow-on stock offering
Gross proceeds:	$125 million
Net proceeds:	$117 million
Shares:	5 million shares
Greenshoe:	825,000 shares
Price:	$25.00 per share
Bookrunner:	Lehman Brothers Inc.
Co-managers:	Pacific Growth Equities, LLC, Banc of America Securities, LLC and J.P. Morgan Securities Inc.
Pricing date:	Feb. 15
Settlement date:	Feb. 22
Stock symbol:	Nasdaq: ADLR
Stock price:	$25.19 at close Feb. 15

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