ALPHARETTA, Ga. … First Horizon Pharmaceutical (Nasdaq: FHRX), a specialty pharmaceutical company, has priced its public offering of 6.5 million shares of its common stock at $21.75 per share, for gross proceeds of more than $141.3 million.
Underwriters Deutsche Bank Securities, Banc of America Securities, JP Morgan, Thomas Weisel Partners and LaSalle Capital Markets were granted the right to purchase an additional 975,000 shares to cover potential over-allotments.
The company plans to use the money for general operating purposes, including continued research and clinical trials of its drug candidates.
First Horizon stock closed at $24.05 a share, up 7.7 percent.
First Horizon focuses on the treatment of cardiovascular, obstetrical and gynecological, pediatric and gastroenterological conditions and disorders. For more information, visit www.horizonpharm.com.