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ARTICLE | Financial News

Insys raises $32M, lists on NASDAQ

May 3, 2013 12:23 AM UTC

Insys Therapeutics Inc. (NASDAQ:INSY) raised $32 million through the sale of 4 million shares at $8 in a public offering on NASDAQ. The price values the company, which previously traded on the Pink Sheets, at $166.4 million. Last month, Insys proposed to sell 4 million shares at $16-$18. A $17 price would have raised $68 million and valued the company at $286.8 million. Wells Fargo; JMP Securities; and Oppenheimer are underwriters. Insys first proposed to raise up to $55 million in the offering in March 2011. ...