Cumberland Pharmaceuticals Inc. Announces Estimated Price Range for Initial Public Offering
NASHVILLE, Tenn., July 23, 2007 /PRNewswire/ -- Cumberland Pharmaceuticals today filed with the U.S. Securities and Exchange Commission an amendment to its registration statement for the proposed initial public offering of its common stock. The estimated price range for the initial public offering is $14.00 to $16.00 per share. Cumberland proposes to sell 6.25 million shares in the offering, and to grant the underwriters an option to purchase up to an additional 937,500 shares to cover over-allotments, if any. All of the shares of common stock will be offered by Cumberland.
UBS Investment Bank will serve as the sole book-running manager for the offering. Jefferies & Company, Wachovia Securities and Morgan Joseph will act as co-managers for the offering.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained from the prospectus department of UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, New York 10171 (telephone number 212-821-3000).
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Cumberland Pharmaceuticals Inc. is a Tennessee-based specialty pharmaceutical company focused on the acquisition, development and commercialization of branded prescription products. Cumberland's primary target markets include hospital acute care and gastroenterology. Cumberland markets Acetadote(R) for the treatment of acetaminophen poisoning and Kristalose(R), a prescription strength laxative. The Company is also developing Amelior(R) which is in Phase III studies for the treatment of both pain and fever. Cumberland is dedicated to providing innovative products which improve quality of care for patients.
CONTACT: Rebecca Kirkham of Lovell Communications, +1-615-297-7766,, for Cumberland Pharmaceuticals Rebecca@Lovell.com
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Posted: July 2007