Ironwood IPO Nets $203M Total
Cambridge, MA-based Ironwood Pharmaceuticals (NASDAQ: IRWD) said today that the underwriters of its IPO on February 2 have exercised all their options to buy 2.5 million additional shares. That means the company has raised an extra $28 million, and after deducting all expenses from this and the first part of the transaction, the company has netted $203 million from the IPO. JP Morgan Securities, Morgan Stanley, Credit Suisse Securities, BofA Merrill Lynch, and Wedbush PacGrow Life Sciences were the underwriters. Ironwood shares have climbed slightly since the initial price was set, closing at $11.50 yesterday.