By Ronda Fears
Nashville, Dec. 9 - A secondary offering of 5.66 million shares of Adams Respiratory Therapeutics, Inc. priced at $43.75 each, discounted from the closing level of $44.25 on Thursday, via joint bookrunners Merrill Lunch and Morgan Stanley.
The two biggest selling stockholders are Chicago-based EGI-Fund Investors, LLC, which is selling roughly 1.7 million shares to reduce its stake to 16.87% from 38%, and the New York-based Perseus-Soros BioPharmaceutical Fund, LP, which also is selling 1.7 million shares to reduce its stake to 9.93% from 15.29%.
Chester, N.J.-based maker of over-the-counter therapies for respiratory ailments, such as Mucinex, will not receive any proceeds from the offering.
| Issuer: | Selling stockholders
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| Reference stock: | Adams Respiratory Therapeutics, Inc.
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| Issue: | Secondary stock offering
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| Proceeds: | $247.66 million
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| Shares: | 5,660,890 million shares
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| Greenshoe: | 849,535 million shares
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| Price: | $43.75 per share
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| Bookrunners: | Merrill Lunch and Morgan Stanley
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| Co-managers: | Deutsche Bank Securities and RBC Capital Markets
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 14
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| Ticker: | ARXT
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| Stock price: | $44.25 at close Dec. 8
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