Mintz Levin Represents Intercept Pharmaceuticals Inc’s FPO
Intercept Pharmaceuticals Inc was represented by attorneys in the Life Sciences Practice of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC. The representation was for the company's completion of its previously announced underwritten public offering. The said offering was for 1,730,000 shares of common stock. The said shares were priced at US$33.01 per share piece. In addition, the underwriters exercised their full option of acquiring additional 259,500 shares of common stock at the public offering price.
Intercept Pharmaceuticals is a clinical stage biopharmaceutical firm. It is directed on the development and commercialization of novel bile acid drugs to treat chronic liver diseases. The net proceeds of the sale were roughly at US61.7 million. This was after deduction of underwriting discounts and commissions including estimated offering expenses.
BofA Merrill Lynch and Citigroup acted as joint book-running managers for the offering. BMO Capital Markets acted as lead manager with co-managers from Needham & Company, Wdbush PacGrow Life Sciences and Janney Montgomery Scott.