Portola Pharmaceuticals Inc. priced and upsized a previously announced common stock offering.
The company is offering 8,035,715 common shares at $28 apiece to raise $225 million, $25 million more than originally planned. The offering is expected to close by Aug. 16.
Goldman Sachs & Co. LLC, Citigroup, Cowen and William Blair are the joint book-running managers for the offering while Oppenheimer & Co. Inc. is the lead manager.
The South San Francisco, Calif.-based biopharmaceutical company gave the underwriters a 30-day option to purchase an additional 1,205,357 common shares at the same price.