NEW YORK (GenomeWeb News) – BG Medicine said Wednesday that the underwriters of its initial public offering have exercised in full their over-allotment option to purchase an additional 750,000 shares of BG's common stock for $7 per share.
In total, BG sold 5.75 million shares at a price of $7 per share in the offering. The firm said in its prospectus for the offering that if the underwriters' over-allotment option was exercised in full, its net proceeds would be approximately $35.1 million.
BG went public late last week. Its shares closed at $8.19 in Wednesday trade on the Nasdaq.