BioCentury
ARTICLE | Financial News

Puma prices discounted $150M follow-on

October 20, 2016 7:00 AM UTC

Puma Biotechnology Inc. (NYSE:PBYI) raised $150 million through the sale of 3.8 million shares at $40 per share in a follow-on underwritten by Citigroup, JPMorgan, Credit Suisse, BofA Merrill Lynch and Stifel. The company proposed the offering after market hours Tuesday, when its shares closed at $52.65. Puma sank $9.95 (19%) to $42.70 on Wednesday, then added $1.10 to $43.80 on Thursday. ...