Adolor greenshoe partially exercised, raising follow on sale to $143.75 million

By Lisa Kerner

Erie, Pa., Feb. 22 - Adolor Corp. said the underwriters of its public offering exercised 750,000 share of the over-allotment option, raising the size of the deal to 5.75 million shares or $143.75 million.

Adolor previously priced 5 million shares after the close on Feb. 16 at $25 per share for proceeds of $125 million. The greenshoe was for up to 825,000 shares.

Lehman Brothers Inc. was bookrunner. Pacific Growth Equities, LLC, Banc of America Securities LLC and J.P. Morgan Securities Inc. were managers.

Net proceeds to Adolor are $135 million and will be used for general corporate purposes.

Adolor is an Exton, Pa., biopharmaceutical company specializing in the discovery, development and commercialization of novel prescription pain management products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.