Navigation Links
Cumberland Pharmaceuticals Announces Pricing of Its Initial Public Offering of Common Stock
Date:8/10/2009

NASHVILLE, Tenn., Aug. 10 /PRNewswire-FirstCall/ -- Cumberland Pharmaceuticals Inc. announced today the pricing of its initial public offering of 5,000,000 shares of the Company's common stock at a price to the public of $17.00 per share, raising $85.0 million in gross proceeds. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares at the initial public offering price to cover any over-allotments. The common stock is expected to begin trading on the NASDAQ Global Select Market on August 11, 2009 under the trading symbol "CPIX".

Net proceeds to the Company are expected to be approximately $75.2 million after deducting underwriting discounts and commissions as well as offering expenses, and before exercise of any over-allotment option. Cumberland expects to use these proceeds primarily for potential acquisitions, the pending launch of the Company's Caldolor((R)) product, expansion of the Company's hospital sales force, product development, debt repayment and general corporate purposes.

UBS Investment Bank, Jefferies & Company, Inc. and Wells Fargo Securities are acting as book-running managers for the offering, and Morgan Joseph is acting as co-manager.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on August 10, 2009. This offering is being made only by means of a written prospectus. A copy of the final prospectus relating to the offering may be obtained from the prospectus department of UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, New York 10171.

Cumberland Pharmaceuticals Inc. is a Tennessee-based specialty pharmaceutical company focused on the acquisition, development and commercialization of branded prescription products. The Company's primary target markets include hospital acute care and gastroenterology. Cumberland markets Acetadote((R)) for the treatment of acetaminophen poisoning and Kristalose((R)), a prescription strength laxative. The Company also recently received FDA approval for Caldolor((R)), the first injectable treatment for pain and fever available in the United States, and is preparing for the commercial launch of that product. Cumberland is dedicated to providing innovative products which improve quality of care for patients.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Statements contained in this press release that are not historical facts are "forwardlooking" statements within the meaning of the federal securities laws. Forward-looking statements, including statements regarding the completion of the proposed initial public offering and any of the terms thereof, are uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by the Company. Additional information regarding these and other risks can be found in the Company's registration statement relating to the proposed offering.


'/>"/>
SOURCE Cumberland Pharmaceuticals Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Cumberland Pharmaceuticals Announces FDA Approval of Caldolor(TM)
2. Cumberland Pharmaceuticals Provides Hospital In-Service Webcast for Acetadote(R)
3. Cumberland Emerging Technologies and UT Research Foundation Sign License Agreement for New Technology
4. Cumberland Pharmaceuticals Appoints Lee Product Director
5. Neurotech Announces the Opening of Its GMP Manufacturing Facility in Cumberland, Rhode Island
6. Cumberland Pharmaceuticals Taps Industry Veteran for Key Executive Position
7. OncoGenex Pharmaceuticals Announces Issuance of Key Patent for OGX-011
8. Vanda Pharmaceuticals Reports Second Quarter 2009 Results
9. Onyx Pharmaceuticals Announces Pricing of Concurrent Offerings of Four Million Shares of Common Stock and $200 Million Principal Amount of Convertible Senior Notes
10. Vanda Pharmaceuticals to Announce Second Quarter 2009 Financial Results on August 10, 2009
11. Data Published in Cell Stem Cell Demonstrates Potent Anti-Cancer Activity for OncoMed Pharmaceuticals Lead Antibody
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... Rolf K. Hoffmann, ... faculty of the University of North Carolina Kenan-Flagler Business School effective ... at UNC Kenan-Flagler, with a focus on the school’s international efforts, leading classes ...
(Date:6/24/2016)... ... ... While the majority of commercial spectrophotometers and fluorometers use the z-dimension of ... higher end machines that use the more unconventional z-dimension of 20mm. Z-dimension ... of the cuvette holder. , FireflySci has developed several Agilent flow cell product ...
(Date:6/23/2016)... - FACIT has announced the creation of a ... Propellon Therapeutics Inc. ("Propellon" or "the Company"), to ... of first-in-class WDR5 inhibitors for the treatment of ... an exciting class of therapies, possessing the potential ... patients. Substantial advances have been achieved with the ...
(Date:6/23/2016)... June, 23, 2016  The Biodesign Challenge (BDC), a ... ways to harness living systems and biotechnology, announced its ... in New York City . ... students, showcased projects at MoMA,s Celeste Bartos Theater during ... , MoMA,s senior curator of architecture and design, and ...
Breaking Biology Technology:
(Date:4/28/2016)... and BANGALORE, India , April 28, 2016 ... a product subsidiary of Infosys (NYSE: INFY ), ... a global partnership that will provide end customers ... mobile banking and payment services.      (Logo: ... innovation area for financial services, but it also plays a ...
(Date:4/15/2016)...  A new partnership announced today will help ... in a fraction of the time it takes ... life insurance policies to consumers without requiring inconvenient ... Diagnostics, rapid testing (A1C, Cotinine and HIV) and ... weight, pulse, BMI, and activity data) available at ...
(Date:3/31/2016)... , March 31, 2016  Genomics firm Nabsys has ... CEO, Barrett Bready , M.D., who returned to ... the original technical leadership team, including Chief Technology Officer, ... Product Development, Steve Nurnberg and Vice President of Software ... the company. Dr. Bready served as CEO ...
Breaking Biology News(10 mins):