Posted Nov. 23, 2009 at 1:48 p.m.
Salix
Salix Pharmaceuticals raises $128 million through stock offering
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Local Tech Wire
RALEIGH, N.C. – Salix Pharmaceuticals (Nasdaq: SLXP) raised $128.2 million after expenses through a stock offering, the company said Monday.
Salix, which develops and sells gastrointestinal drugs, sold 5.5 million shares at $21 each.
Jefferies & Company, which handled the offering, also purchased 825,000 shares as part of its over-allotment option.
Salix shares traded Monday afternoon at $23.35.
“Salix intends to use the net proceeds from the offering for business development activities and other general corporate purposes,” the company said in a statement.
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