Horizon raises $75 million in follow-on

Horizon Pharma Inc. (NASDAQ:HZNP) raised $75 million through the sale of 21.4 million units at $3.50 in a follow-on underwritten by Cowen; JMP Securities; and Stifel Nicolaus Weisel. Each unit comprises a share and a five-year warrant to purchase 0.5 shares, with each whole warrant exercisable at $4.57. Horizon, which proposed the offering late Wednesday, fell $1.10 (24%) to $3.48 on Thursday. ...