UPDATE: VIVUS Announces Pricing of 9M Share Offering of at $22.50
VIVUS, Inc. (Nasdaq: VVUS) announced yesterday the pricing of an underwritten public offering of 9,000,000 shares of its common stock at a price to the public of $22.50 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $202.5 million.
The offering is expected to close on or about March 6, 2012, subject to customary closing conditions. The company has also granted the underwriters a 30-day option to purchase up to an aggregate of 1,350,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are being sold by VIVUS.
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