SCHAUMBURG, Ill., April 20, 2011 /PRNewswire/ -- Sagent Pharmaceuticals (Nasdaq:SGNT - News) announced the upsizing and pricing of its initial public offering. The size of the offering has been increased from the previously announced 5,000,000 shares of common stock to 5,750,000 shares of common stock at a price to the public of $16.00 per share. The shares are scheduled to begin trading on The NASDAQ Global Market on April 20, 2011 under the ticker symbol "SGNT." The underwriters have a 30-day option to purchase up to an additional 862,500 shares at the initial public offering price. The offering is expected to close on April 26, 2011.
Morgan Stanley, BofA Merrill Lynch, and Jefferies are acting as the joint bookrunners for the offering. Needham & Company, LLC and RBC Capital Markets are acting as the co-managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 19, 2011. The offering is being made only by means of a prospectus, copies of which may be obtained from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone at 1-866-718-1649, or by e-mail at email@example.com; from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or by e-mail at firstname.lastname@example.org; or from Jefferies, 520 Madison Avenue, 12th Floor, New York, NY 10022, Attention: Equity Syndicate Prospectus Department, by telephone at (877) 547-6340, or by e-mail at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
About Sagent Pharmaceuticals
Sagent Pharmaceuticals, founded in 2006, is a specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients.