Insmed Plans To Sell $500 Mln Of Shares Of Common Stock In Underwritten Public Offering

(RTTNews) - Insmed Inc. (INSM) said that it plans to offer and sell $500 million of shares of its common stock in an underwritten public offering. In addition, Insmed intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, Insmed said in a statement.

Goldman Sachs & Co. LLC and Leerink Partners are acting as joint book-running managers for the offering.

INSM closed Tuesday's regular trading at $48.06 up $26.06 or 118.45%. But in the after-hours trading the stock dropped $0.06 or 0.12%.