The underwriters of Inhibitex stock that went public last month have exercised most of their over-allotment options, the company said Thursday.
Inhibitex (Nasdaq: INHX) issued 5 million shares at $7 on June 7.
The stock traded has high as $7.75 but closed at $7.03 on Thursday.
The underwriters had 527,000 options at an issue price of $7 minus a 49-cent discount for underwriting. They had 30 days in which to exercise options on 750,000 shares.
Thomas Weisel Partners LLC, Lazard and Harris Nesbitt handled the IPO.