MAP Pharmaceuticals Announces Pricing of Its Initial Public Offering
MOUNTAIN VIEW, Calif., Oct. 5 -- MAP Pharmaceuticals, Inc. announced today that it has priced its initial public offering of 5,000,000 shares of common stock at a price of $12.00 per share. All shares are being offered by MAP Pharmaceuticals. In addition, MAP Pharmaceuticals has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares to cover over-allotments, if any. Merrill Lynch & Co. and Morgan Stanley & Co. Incorporated are joint book-running managers for the offering and Deutsche Bank Securities Inc. is co-lead manager for the offering. MAP Pharmaceuticals' common stock will trade on the NASDAQ Global Market under the symbol "MAPP."
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 4, 2007. Any offer or sale will be made only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from: Merrill Lynch & Co., 4 World Financial Center, New York, New York 10080 or Morgan Stanley, Prospectus Department, 1585 Broadway, New York, New York 10036.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.
About MAP Pharmaceuticals
Located in Mountain View, California, MAP Pharmaceuticals, Inc. uses proprietary inhalation technologies to enhance the therapeutic benefits and commercial attractiveness of proven drugs while minimizing risk by capitalizing on their known safety, efficacy and commercialization history. The Company has several proprietary product candidates in clinical development that address large market opportunities, including the two most advanced product candidates: a proprietary formulation of nebulized budesonide for the potential treatment of children with asthma, and a proprietary formulation of inhaled dihydroergotamine for the potential treatment of migraine. Additional information about MAP Pharmaceuticals can be found at http://www.mappharma.com.