Funding roundup: Actavis, Xencor, Curis, Celldex, AMAG
Actavis plc (NYSE:ACT), Xencor Inc. (NASDAQ:XNCR), Curis Inc. (NASDAQ:CRIS), Celldex Therapeutics Inc. (NASDAQ:CLDX) and AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) raised more than $8.9 billion in follow-on offerings on Wednesday.
Actavis raised $8.4 billion through simultaneous offerings of ordinary and convertible preferred shares. The specialty pharma raised $3.8 billion through the sale of 13.2 million ordinary shares at $288 and $4.6 billion through the sale of 4.6 million shares of 5.5% mandatory convertible preferred shares at $1,000. JPMorgan; Mizuho; Wells Fargo; Morgan Stanley; Barclays; and Citigroup were underwriters. Actavis proposed the offerings premarket on Feb. 19, when its shares were valued at $284. The stock gained $1.29 to $290.40 on Wednesday. Actavis is acquiring Allergan Inc. (NYSE:AGN) (see BioCentury Extra, Nov. 17, 2014). ...