RICHMOND, Va.--(BUSINESS WIRE)--Oct. 27, 2000--Insmed Incorporated (NASDAQ: INSM - news) today announced the pricing of a public offering of 6,500,000 shares of its common stock at a price of $11.875 per share. Of the 6,500,000 shares being offered, 5,500,000 shares are being offered by the Company and 1,000,000 shares are being offered by certain selling shareholders of Insmed.
The Company will not receive any of the proceeds from the sale of shares by the selling shareholders. The selling shareholders have granted the underwriters an option to purchase up to an additional 975,000 shares to cover over-allotments, if any. The underwriting is being managed by Robertson Stephens, Inc., with Banc of America Securities LLC, and Prudential Vector Healthcare Group, a unit of Prudential Securities, serving as co-managers. |
