Innocoll raises $40.1M follow-on

Innocoll Holdings plc (NASDAQ:INNL) raised $40.1 million through the sale of 5.7 million shares at $7 in a follow-on underwritten by Morgan Stanley, Piper Jaffray, Stifel, FBR and Janney Montgomery Scott.

Innocoll proposed to raise $50 million after market hours on Monday, when it closed at $10.95. ...