Insmed Announces Closing Of Public Offering And Exercise Of Option To Purchase Additional Shrs
MONMOUTH JUNCTION, NJ--(Marketwired - Jul 22, 2013) - Insmed Incorporated (NASDAQ: INSM) today announced the closing of a $71.8 million underwritten public offering of 6,900,000 shares of common stock, including 900,000 shares of common stock which were issued pursuant to the exercise of the underwriters' option to purchase additional shares, at a price of $10.40 per share to the public. The net proceeds to Insmed from this offering were approximately $67.0 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Insmed.
Leerink Swann LLC acted as sole book-running manager for the offering. Lazard Capital Markets LLC and Canaccord Genuity Inc. acted as co-managers of the offering.