Amphastar Pharmaceuticals, which produces difficult-to-manufacture injectable and inhalable drugs, announced terms for its IPO on Friday. The Rancho Cucamonga, CA-based company plans to raise $81 million by offering 7.4 million shares (46% insider) at a price range of $10 to $12. At the midpoint of the proposed range, it would command a fully diluted market value of $475 million.
Amphastar Pharmaceuticals, which was founded in 1996 and booked $223 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol AMPH. Amphastar initially filed confidentially on December 16, 2013. Jefferies, BMO Capital Markets and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of June 23, 2014.
