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Ironwood prices IPO

February 4, 2010 12:45 AM UTC

Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) raised $187.5 million though the sale of 16.7 million shares at $11.25 in an IPO underwritten by JPMorgan; Morgan Stanley; Credit Suisse; BofA Merrill Lynch; and Wedbush PacGrow Life Sciences. The price came in below the proposed range of $14-$16 and values the company at $1.1 billion. A $15 price would have raised $250 million and valued the company at $1.4 billion. Ironwood was up $0.40 to $11.65 in its first day of trading on Wednesday. ...