PLYMOUTH (WWJ) — Esperion Therapeutics Inc. (Nasdaq: ESPR), the Plymouth-based developer of new drugs to lower cholesterol levels in the blood, announced that the underwriters of its recently completed initial public offering have exercised in full their option to purchase an additional 750,000 shares of common stock from Esperion to cover over-allotments.

The sale of the additional shares closed July 11.

Including proceeds from the sale of the additional shares, the net proceeds to Esperion from the IPO are expected to be $72.8 million after deducting underwriting discounts and commissions and estimated offering expenses payable by Esperion.

Credit Suisse and Citigroup acted as joint book-running managers for the offering. JMP Securities and Stifel acted as co-managers.

Esperion stock went public late last month at $14 a share. It closed Friday at $17.05, up 32 cents or 1.9 percent on the day.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 25. Copies of the final prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by calling toll-free (800) 221-1037, or by emailing; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at, or by phone at (800) 831-9146.


Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best Cooking Classes In DetroitLearn how to whip up some wonderful dishes while having fun!
5 Bucket List Items To Cross Off In DetroitThe “must-do” items for anyone making a trip to Detroit.

Watch & Listen LIVE