Thursday, March 30, 2006 11:13:50 AM
AP, Thursday March 30, 6:56 am ET
Amylin Pharmaceuticals Raises Proceeds of $441.4 Million in Public Stock Offering
http://finance.yahoo.com/q?s=AMLN
SAN DIEGO (AP) -- Biopharmaceutical company Amylin Pharmaceuticals Inc. said Thursday a public offering of 10 million shares at $46.50 each raised net proceeds of about $441.4 million.
The company has granted underwriters an overallotment option to purchase up to an additional 1.5 million shares.
Amylin, which develops therapies to treat diabetes and associates disorders, said in a regulatory filing it plans to use proceeds to commercialize approved products, fund the development of drug candidates, increase research and development and for other general corporate purposes.
Morgan Stanley & Co. is the sole bookrunning and co-lead manager for the offering, Goldman Sachs & Co. is co-lead manager, and co-managers are Bear Stearns & Co. and Lehman Brothers Inc.
Amylin Pharmaceuticals has about 111.5 million shares outstanding. Shares of the company closed Wednesday at $46.86 on the Nasdaq.
http://biz.yahoo.com/ap/060330/amylin_pharma_stock_offer.html?.v=1
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