Esperion Therapeutics Inc is a clinical stage biopharmaceutical firm. It is focused on the development and commercialization of first in class, low-density, oral lipoprotein cholesterol (LDL). The company's product is used to treat conditions of hypercholesterolemia.
Today, Esperion announced that its underwriters exercised their overallotment option following the completion of a recently held initial public offering (IPO). The company said that the underwriters for the offering purchased additional 750,000 shares of common stock from the Esperion Therapeutics. The purchase was made to cover over allotments.
Last July 11, the sale for the additional sales was closed. The net proceeds from the initial public offering and the additional stock sale were valued around US$72.8 million. This was after deductions of underwriter discounts and commissions as well as offering expenses.
The appointed joint book running managers for the offering was Credit Suisse and Citigroup. JMP Securities and Stifel were appointed as co-managers.
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