Cempra raises $50.4M in IPO

Antibiotics company Cempra Inc. (NASDAQ:CEMP) raised $50.4 million through the sale of 8.4 million shares at $6 in an IPO. The price values Cempra at $118.6 million. Last month, the company said it planned to sell 6 million shares at $11-$13. At the $12 mid-point of the original range and 6 million shares, the company would have raised $72 million and been valued at $188 million. Stifel Nicolaus Weisel; Leerink; Cowen; and Needham were underwriters. Cempra gained $0.06 to $6.06 in its first day of trading on Friday. ...