Diplomat Pharmacy Prices Its Initial Public Offering

Diplomat Pharmacy, Inc, the nation's largest independent specialty pharmacy began trading its common stock the NYSE on October 10 in connection with its IPO.

Diplomat Pharmacy, Inc, the nation’s largest independent specialty pharmacy began trading its common stock the NYSE on October 10 in connection with its IPO.

Diplomat Pharmacy, Inc (NYSE: DPLO), the nation’s largest independent specialty pharmacy, announced the pricing of its initial public offering of 13,333,333 shares of common stock at a price to the public of $13 per share.

The shares were expected to begin trading on the New York Stock Exchange under the symbol “DPLO” on October 10, 2014. Diplomat is selling 10,000,000 shares of common stock and certain selling shareholders of Diplomat are selling 3,333,333 shares of common stock.

The company and selling shareholders each have granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of common stock (an aggregate of 2,000,000 shares of common stock) to cover over-allotments, if any.

Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are acting as lead book-running managers. Additional book-running managers are J.P. Morgan Securities LLC and Wells Fargo Securities, LLC. William Blair & Company, L.L.C. and Leerink Partners LLC are acting as co-managers.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission.

SOURCE: Diplomat Pharmacy, Inc