IPO News Archive
Sagent Pharmaceuticals reveals IPO terms
Sagent Pharmaceuticals, aninjectable pharmaceutical company with 21 marketed and 45 pipeline products, announced terms for its IPO on Wednesday. The Schaumburg, IL-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the mid-point of the proposed range, Sagent Pharmaceuticals will command a market value of $392 million. Sagent Pharmaceuticals, which was founded in 2006 and booked $74 million in sales last year, plans to list on the NASDAQ under the symbol SGNT. Morgan Stanley, BofA Merrill Lynch and Jefferies & Co. are the lead underwriters on the deal, which is expected to price during the week of April 18.