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Surprise… VIVUS Shares Sale Announcement Arrives (VVUS)

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By Jon C. Ogg Published

We have been expecting this news for a few days now, and it has now finally arrived.  VIVUS Inc. (NASDAQ: VVUS) is going to offer up to 8.5 million shares of common stock in a public offering under its existing shelf registration.  All of stock being sold is coming from the company.

J.P. Morgan Securities LLC is acting as sole book-running manager of the proposed offering.  VIVUS will grant the underwriters a 30-day overallotment option to purchase up to 1,275,000 additional shares of common stock.

VIVUS already had insiders selling in recent days and the stock has come off of the high by almost $4.00 from yesterday’s peak.  Shares closed down 10.6% at $21.26 today versus a 52-week trading range of $6.00 to $25.14.  The stock was down about 3% more in after-hours trading.
 
JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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