|POZEN'S Underwriters Exercise Overallotment|
CHAPEL HILL, N.C., Nov. 7 /PRNewswire/ -- POZEN Inc. (Nasdaq: POZN), a pharmaceutical development company with a portfolio of migraine products, today announced that the underwriters of its initial public offering have purchased an additional 750,000 shares of common stock at $15 per share pursuant to their overallotment option. This will increase the company's initial public offering to a total of 5.75 million shares for $86.3 million in proceeds before deducting expenses for the offering and underwriting discounts and commissions. Settlement will occur on November 9, 2000.
North Carolina-based POZEN Inc. is a pharmaceutical development company committed to building a portfolio of products with significant commercial potential in select therapeutic areas. The company's initial focus is migraine, where it has built a portfolio of four product candidates through a combination of innovation and in-licensing. The company's common stock is traded on The Nasdaq Stock Market under the symbol "POZN."
This press release shall not constitute an offer to sell or a 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 registration or qualification under the securities laws of any sate or jurisdiction. Copies of the prospectus relating to the underwritten public offering may be obtained by contacting the Prospectus Departments of: U.S. Bancorp Piper Jaffray Inc., 800 Nicollet Mall, Suite 800, Minneapolis, Minn. 55402 or 612-303-6620; Prudential Vector Healthcare, 1751 Lake Cook Road, Suite 350, Deerfield, Ill. 60015 or 847-374-3960; or Pacific Growth Equities, Inc., Four Maritime Plaza, San Francisco, Calif. 94111 or 415-274-6806.
POZEN is on the Internet at www.pozen.com .