SAN DIEGO, Nov. 13 /PRNewswire-FirstCall/ -- Cadence Pharmaceuticals, Inc. announced today that its underwriters exercised their over-allotment option in full to purchase an additional 900,000 shares of its common stock in connection with its previously announced initial public offering that priced on October 24, 2006. Including the over-allotment shares purchased, the company sold 6,900,000 shares at a public offering price of $9.00 per share, resulting in expected net proceeds to the company of approximately $57.8 million (after payment of the underwriting discount, but excluding estimated offering expenses).
Merrill Lynch & Co. acted as sole book-running manager and Deutsche Bank Securities Inc. acted as co-lead manager for the offering. In addition, Pacific Growth Equities, LLC and JMP Securities LLC acted as co-managers for the offering.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on October 24, 2006. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities is made only by means of a written prospectus, copies of which may be obtained from: Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080 (telephone: 866-500-5408).
About Cadence Pharmaceuticals, Inc.
Cadence Pharmaceuticals is a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates principally for use in the hospital setting. Cadence currently has two Phase III products in development, including one for the treatment of acute pain and fever and one for the prevention of catheter-related infections.
Contacts: William R. LaRue Susan Neath SVP & Chief Financial Officer Media & Investor Relations Cadence Pharmaceuticals, Inc. Porter Novelli Life Sciences 858-436-1400 858-527-3486
Cadence Pharmaceuticals, Inc.
CONTACT: William R. LaRue, SVP & Chief Financial Officer of CadencePharmaceuticals, Inc., +1-858-436-1400; or Media & Investor Relations,Susan Neath of Porter Novelli Life Sciences, +1-858-527-3486, for CadencePharmaceuticals, Inc.
