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Zafgen closes $69M common stock offering

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Zafgen closes $69M common stock offering

Zafgen Inc., a health care delivery and management company, closed its underwritten public offering of 9.2 million of its common shares at $7.50 apiece for gross proceeds of $69.0 million.

The shares sold included 1.2 million common shares sold pursuant to the full exercise of the underwriters' overallotment option.

All of the shares in the offering were sold by the Boston-based biotechnology company.

Cowen and Co. LLC and Piper Jaffray & Co. served as joint book-running managers and JMP Securities LLC and Wedbush Securities Inc. served as co-lead managers for the offering.

Zafgen develops therapies to treat metabolically related disorders.