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Eurand, shareholders offering 8.5 million shares

posted: 44 DAYS 17 HOURS AGO

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NEW YORK -Drug developer Eurand NV said Thursday it and certain shareholders plan to publicly offer a combined 8.5 million shares of common stock.

The Amsterdam-based company has not yet priced the offering.

The company said it is offering 2 million shares and shareholders are offering 6.5 million shares. Selling stockholders will grant underwriters an option to buy up to an additional 1,275,000 shares at the public offering price to cover over-allotments.

Deutsche Bank Securities and BofA Merrill Lynch are acting as joint book-running managers of the proposed offering.

Shares of Eurand fell 58 cents, or 4.2 percent, to $13.23 in afternoon trading. The stock has traded between $6.17 and $15.53 over the last 52 weeks.

2009-10-15 11:55:28

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