Epocrates, Inc. (NASDAQ: EPOC) saw a strong debut so far on Wednesday after its IPO was given a premium price above the range. Yesterday’s range was put at $13 to $16 per share, but the formal price came to $16 per share when the dust settled and the orders were tallied up. The Initial Public Offering was 5,360,000 shares of common stock, with some 3,574,285 shares being sold by the company and the rest from selling shareholders.
J.P. Morgan and Piper Jaffray were the joint book-running managers; co-managers were listed as William Blair & Company and JMP Securities. The underwriters have been granted a 30-day option to purchase up to an additional 804,000 shares of common stock from Epocrates to cover over-allotments.
The trading range has so far been in a range of $20.00 to $21.16 and shares at noon are currently up 28% at $20.49 on more than 5.4 million shares.
The company makes handheld applications for doctors and medical staff. Think apps and programs for smartphones and tablets at the doctor’s office or the hospital.
Here is a list of the 17 most anticipated IPOs of 2011.
JON C. OGG
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
