Incyte closes on public offering of 20.7M shares
Incyte closes on public offering of 20.7M shares, sold for $6.75 each
- On 6:05 pm EDT, Wednesday September 30, 2009
WILMINGTON, Del. (AP) -- Incyte Corp., a drug discovery and development company, said Wednesday it has closed on a public offering of 20.7 million shares at $6.75 each.
The sale had net proceeds of $132 million, after fees and discounts, which Incyte plans to use for research and development and general expenses.
The underwriters bought 2.7 million shares. Goldman Sachs was the book-running manager. Morgan Stanley & Co. and JPMorgan Securities Inc. were co-managers.
Incyte is based in Wilmington, Del. Its shares fell 1 cents to $6.75 on Wednesday.
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