Amicus Raises $50 Million In Capital (FOLD)
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…
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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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.
