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ARTICLE | Financial News

Ophthotech raises $167.2 million in IPO

September 26, 2013 1:11 AM UTC

Ophthotech Corp. (NASDAQ:OPHT) jumped $4.30 (20%) to $26.30 on Wednesday in its first day of trading after raising $167.2 million in an IPO priced above its proposed range. Ophthotech sold 7.6 million shares at $22, which values the company at $662.4 million. Morgan Stanley; JPMorgan; Leerink; and Stifel are underwriters.

On Tuesday, Ophthotech amended the IPO to sell 7.6 million shares at $19-$20, up from 5.7 million shares at $16-$19 set earlier this month. At the $19.50 midpoint, the company would have raised $148.2 million and been valued at $587.2 million. ...