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Synergy Pharmaceuticals prices $125M common stock offering

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Synergy Pharmaceuticals prices $125M common stock offering

Synergy Pharmaceuticals Inc. priced a previously announced underwritten offering of shares at $6.15 apiece.

The company will issue 20,325,204 shares with closing expected by Feb. 6.

Cantor Fitzgerald & Co. and Canaccord Genuity Inc. are acting as joint book-running managers of the issue while H.C. Wainwright & Co. LLC is serving as co-manager.

Synergy plans to use amounts raised to fund the commercialization of Trulance while advancing the clinical development of Plecanatide, among other things.