Ironwood Pharmaceuticals announced the pricing of an underwritten public offering financing of 13,725,500 shares of its Class A common stock at a price of $12.75 per share to the public.
The gross proceeds to Ironwood from this offering are expected to be approximately $175 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by Ironwood.
Ironwood intends to use the net proceeds from this offering to support the commercialization of LINZESS (linaclotide) in the U.S. and to fund linaclotide and other development opportunities to advance its strategy to grow a leading gastrointestinal company, in addition to general corporate purposes.
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