Ironwood Pharmaceuticals (IRWD) Prices 5.25 Million Share Offering at $15.09/Share
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Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) announced today the pricing of an underwritten public offering of 5,250,000 shares of its Class A common stock at a price of $15.09 per share to the public. All of the shares are being offered by Ironwood. The gross proceeds to Ironwood from this offering are expected to be approximately $79.2 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by Ironwood. The offering is expected to close on February 15, 2012, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from this offering for general corporate purposes, including to further strengthen its balance sheet in advance of the potential market launch of linaclotide (if approved).
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The Company intends to use the net proceeds from this offering for general corporate purposes, including to further strengthen its balance sheet in advance of the potential market launch of linaclotide (if approved).
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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