China-based ceramic valve manufacturer Shengkai Innovations priced an overnight offering at $5.50 per share, raising about 12 million dollars in net proceeds which the company said it would use in part for product expansion and working capital. Shares were trading about 15% lower on Friday.
Somaxon Pharmaceuticals
priced an overnight offering of 8.8 million shares at $2.95 per share, underwritten by
Piper Jaffray
. Somaxon's Silenor prescription treatment helps insomnia patients with sleep maintenance difficulties. Shares fell about 14%, to trade below the offering price Friday.
CVR Energy upsized its public offering to 18 million shares, and priced the deal at $10.75 each.
Deutsche Bank
and
Goldman Sachs
are the joint book-running managers for the offering, and Goldman is also among the selling stockholders in the offering. Also selling shares are Kelso & Company, and CVR's CEO, who indicated the sale was for personal tax planning reasons. Shares of CVR Energy fell about 5%, to trade around the 11 dollar mark Friday.
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