Amarin Nets $121 Million in ADS Flotation

Amarin is now more than $121 million richer, following a public stock offering. The company announced it has closed a 21.7-million share-strong issue of American Depositary Shares, netting a total of around $121.1 million. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 3.255 million American Depositary Shares.

Amarin said it plans to use the proceeds of the issue largely to fund the commercial launch of Vascepa, a treatment that lowers triglycerides. 

Citigroup's Global Markets unit, and Leucadia's Jefferies, were the joint-book running managers of the offering.


Prior to the issue, Amarin had around 150.7 million shares outstanding. Its stock's most recent closing price was $5.27 per share.

The article Amarin Nets $121 Million in ADS Flotation originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool owns shares of Citigroup. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.