NPS Pharmaceuticals, Inc. (NPSP) said Monday that it has commenced an underwritten public offering of 6 million shares of its common stock.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the proposed offering.
NPS plans to grant the underwriters a 30-day option to purchase up to 900,000 additional shares of its common stock to cover over-allotments, if any.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, the company said.
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