Cara raises $85.5M follow-on

Cara Therapeutics Inc. (NASDAQ:CARA) raised $85.5 million on July 18 through the sale of 4.5 million shares at $19 in a follow-on underwritten by Jefferies, BofA Merrill Lynch, Piper Jaffray, Stifel, Canaccord Genuity, Needham, H.C. Wainwright and Janney Montgomery Scott. The price is a 12% discount to Cara’s close of $21.60 on July 17 when it proposed the offering after market hours...