Tuesday June 5, 8:52 am Eastern Time
InterMune files to sell 3 mln shares
WASHINGTON, June 5 (Reuters) - InterMune Inc. (NasdaqNM:ITMN - news), which is developing drugs to treat pulmonary and infectious diseases and cancer, filed on Tuesday with the Securities and Exchange Commission to sell 3 million common shares.
The shares are worth $120.3 million based on the company's closing stock price on Monday of $40.10 on Nasdaq.
InterMune, which is based in Burlingame, California, plans to use the net proceeds for clinical development, commercialization of existing drug products, working capital and general corporate purposes, it said in the filing.
InterMune will be left with 26.9 million common shares outstanding when the stock offering is completed.
The transaction is being handled by Lehman Brothers, Banc of America Securities, Robertson Stephens and UBS Warburg, which have an option to buy 450,000 extra shares if the 3 million shares get snapped up by investors. |
