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.READ MORE: ACLU Sues Michigan State Police, Claims Racial Profiling, Black Drivers Pulled Over More
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.READ MORE: Woman Finds 95-Year-Old Message In A Bottle In Michigan
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.MORE NEWS: Here's A List Of Bills Gov. Whitmer Signed Into Law Thursday
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 firstname.lastname@example.org; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at email@example.com, or by phone at (800) 831-9146.