Chimerix stock pops 34% after IPO at $14 per share
DURHAM, N.C., April 12, 2013 — Chimerix's debut as a public company produced a whopping climb in stock price.
The Durham company went public at $14 per share, raising $102 million for the antivirals company.
But Chimerix’s public debut proved to be even stronger and the stock marched upward throughout the day topping the $18 per share mark in afternoon trading. Chimerix (Nasdaq: CMRX) closed its first day of trading at $18.79 per share, up 34 percent from its offering price.
The closing price was the high for the day. Some 4.5 million shares were traded.
Chimerix sold 7.3 million shares, which is some 20 percent more than the 6.1 million shares that the company had originally planned to sell. Morgan Stanley and Cowen and Company are joint book-running managers for the offering. William Blair and Lazard Capital Markets are co-managers.
Chimerix can raise even more money. Underwriters have 30 days to purchase up to an additional 1 million shares of common stock to cover over-allotments, if any. The offering is expected to close on April 16.
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