Osmotica Pharmaceuticals, which develops and sells extended-release neurology drugs, raised $47 million by offering 6.65 million shares at $7, in line with the revised price guidance. The company had previously filed to offer 8.3 million shares at a range of $14 to $16. Also, insiders purchased $14 million in a concurrent private placement. Osmotica Pharmaceuticals plans to list on the Nasdaq under the symbol OSMT. Jefferies, Barclays, RBC Capital Markets and Wells Fargo Securities acted as lead managers on the deal.
