Maker of heart drugs says a majority of the shares to be sold will be newly issued and a portion will be sold by a stockholder.Reliant Pharmaceuticals, a Liberty Corner maker of heart drugs, plans to raise up to $300 million in an initial public offering.
In a Form S-1 filed with the U.S. Securities and Exchange Commission Friday, Reliant said a majority of the shares to be sold will be newly issued and a portion will be sold by a stockholder.
Reliant will not receive any of the proceeds from the sale of shares by the selling stockholder.
Goldman, Sachs is the lead manager and sole book-runner for the offering.
Reliant plans to trade on the New York Stock Exchange under the ticker symbol “RR.”