ARTICLE | Financial News

Zogenix debuts with $56M

November 24, 2010 1:10 AM UTC

Zogenix Inc. (NASDAQ:ZGNX) raised $56 million through the sale of 14 million shares at $4 in an IPO underwritten by Wells Fargo; Leerink; Oppenheimer; and Stifel Nicolaus Weisel. The price values Zogenix at $134.3 million. Zogenix previously proposed to sell 6 million shares at $12-$14. At a $13 price and 6 million shares, the company would have raised $78 million and been valued at $300 million. In September, the company refiled to raise up to $90 million. The company withdrew a previous IPO filing in 2008. In its first day of trading on Tuesday, Zogenix was off $0.02 to $3.98. ...