Ironwood (IRWD) To Raise $267 Million Through IPO

Ironwood Pharmaceuticals Inc. (NASDAQ: IRWD) and Imperial Capital Group Inc. are expected to come out with their Initial Public Offerings two months after their first deals got postponed. IRWD is expected to raise $267 million and Imperial Capital Group is expected to raise $113 million.

According to Bloomberg, Ironwood Pharmaceuticals, which is developing a drug to treat constipation, is asking buyers for 31 percent more than its fair value, and Imperial Capital seeks $4.69 per dollar of its tangible book value. IRWD’s common stock has a fair value of $12.18 per share. Buyers are thus asked to purchase shares at a premium of 15 - 31 percent.