James E. Flynn, the manager of Deerfield Management, has disclosed a new passive stake in Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH). Mr. Flynn owns 1.83 million shares of the company, equivalent to 4.22% of common stock, a new filing with the U.S. Securities and Exchange Commission showed.
Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) is a specialty pharmaceutical company focusing primarily on developing, manufacturing, marketing, and selling technically-challenging generic and proprietary injectable and inhalation products. Recently, the company conducted a public offering in which it issued 8.0 million shares of its common stock, including 3.36 million shares from the selling stockholders. The offering was priced at $7.00 per share for a total offering amount of $56 million, according to a press release.
The underwriters were granted a 30-day option to purchase up to an additional 1.20 million shares of common stock. The underwriters exercised in full their option to purchase from the company all these additional shares of common stock at the initial public offering price of $7.00 per share. Including the exercise of the over-allotment option, the company has sold a total of 5.84 million shares of its common stock.
Deerfield Management is a healthcare focused investment firm specializing in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services. The fund oversees $3.5 billion in assets. At the end of April, Deerfield reported a new stake in ANI Pharmaceuticals Inc (NASDAQ:ANIP), owning nearly 660,000 shares. In addition, the fund revealed raising its position in Trivascular Technologies Inc (NASDAQ:TRIV), holding around 1.70 million shares from 632,700 shares.