Supernus raises $50M in IPO

Supernus Pharmaceuticals Inc. (NASDAQ:SUPN) raised $50 million through the sale of 10 million shares at $5 in an IPO. The price values Supernus at $119.6 million. Citi; Piper Jaffray; Cowen; and Stifel Nicolaus Weisel were underwriters. Supernus was up $0.37 to $5.37 in its first day of trading on Tuesday.

On April 27, Supernus said it planned to raise $55 million through the sale of 11 million shares at $5, which would have valued the company at $124.6 million. On April 11, Supernus said it would sell 5.8 million shares at $12-$14 per share. At the $13 mid-point, Supernus would have raised $75 million and been valued at $255.9 million. The company filed to raise up to $100 million in 2010. ...