Amicus Therapeutics, Inc. (NASDAQ: FOLD) has raised more than $50 million in a secondary offering of common stock. The company sold 10 million shares at a price of $5.70 per share, down from the $5.96 close on Thursday and versus a 52-week trading range of $2.10 to $8.12.
Leerink Swann and Cowen and Company were the underwriters for the offering and Amicus has granted the underwriters a 30-day overallotment option to purchase up to an additional 1,500,000 shares of common stock.
All of the shares are being sold by the company.
This is a rather large offering in size as Yahoo! Finance had the closing value pegged at $206 million before the effects of any new stock on the market.
Today’s offering is on the heels of a big pop earlier in the week, which ultimately did not hold, up to as high as $6.40.
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