Zealand Pharma: underwriters exercise over-allotment option.

(CercleFinance.com) - Zealand Pharma said on Tuesday that underwriters of its recent US offering have exercised in full their over-allotment option.


Morgan Stanley and Goldman Sachs have exercised the overallotment option on behalf of several underwriters to purchase 656,250 additional shares at the offer price of 17.87 dollars per share.

The 656,250 additional shares will be delivered by Zealand in the form of ADS, with 500,000 such shares in the form of existing shares, and 156,250 shares in the form of new shares.

With the full exercise of the over-allotment option, the gross total proceeds from the Nasdaq offering will amount to 566.4 million Danish kroner (around 90 million dollars).

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