ARTICLE | Financial News

Horizon raises $49.5M in IPO

July 29, 2011 12:17 AM UTC

Horizon Pharma Inc. (NASDAQ:HZNP) raised $49.5 million Thursday through the sale of 5.5 million shares at $9 per share in an IPO. The price came in below Horizon's proposed $10-$12 range and values the company at $172.3 million. An $11 price would have raised $60.5 million and valued the company at $210.6 million. Horizon was up $0.15 to $9.15 in its first day of trading on Thursday. The IPO was underwritten by Stifel Nicolaus Weisel; Cowen; and JMP Securities. ...