Pacira raises $42M in IPO

Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) raised $42 million through the sale of 6 million shares at $7 in an IPO underwritten by Barclays Capital; Piper Jaffray; Wedbush PacGrow Life Sciences; and Brean Murray, Carret. The price values the company at $120.6 million. Pacira previously hoped to sell 4.3 million shares at $14-$16. At the $15 mid-point of the original range and 4.3 million shares, the company would have raised $63.8 million and been valued at $223.7 million. Pacira was up $0.02 to $7.02 in its first day of trading on Thursday. ...