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Portola Pharmaceuticals prices $225M public offering

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Portola Pharmaceuticals prices $225M public offering

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.