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Acorda prices IPO

February 11, 2006 3:02 AM UTC

ACOR raised $33 million through the sale of 5.5 million shares at $6 in an IPO underwritten by Banc of America Securities; Lazard; Piper Jaffray; and SG Cowen. The price was at the bottom of the company's recently reduced range and values the company at $114.3 million. On Thursday, ACOR cut the deal price to $6-$7 from $11-$13. The company withdrew its original IPO attempt in January 2004, when it had hoped to raise $57-$66.5 million. ...