bluebird raises $500M follow-on

bluebird bio Inc. (NASDAQ:BLUE) dipped $4.21 to $170.10 after it raised $500 million through the sale of 2.9 million shares at $170 in a follow-on underwritten by BofA Merrill Lynch; Morgan Stanley; Cowen; SunTrust Robinson Humphrey; Wedbush PacGrow; and Roth Capital Partners. The company had proposed to raise $400 million after market close on Tuesday.

The offering is the biotech's third follow-on in less than a year. bluebird raised $259 million through the sale of about 3 million shares at $85 a share in December 2014, and $117.3 million through the sale of about 3.5 million shares at $34 in July 2014. ...