CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) (the "Company") today
announced that the underwriters of its previously announced public
offering of Class A common stock have exercised their option to purchase
an additional 787,500 shares at a public offering price of $15.09 per
share. As a result, the Company will issue a total of 6,037,500 shares
in the offering and will receive aggregate net proceeds, after
underwriting discounts and commissions and other estimated offering
expenses, of approximately $85.3 million. The offering is expected to
close on February 15, 2012, subject to the satisfaction of customary
closing conditions.
J.P. Morgan Securities LLC and BofA Merrill Lynch acted as lead joint
bookrunning managers and Morgan Stanley & Co. LLC acted as joint
bookrunning manager of the offering. A copy of the final prospectus
supplement related to the offering has been filed with the SEC and is
available on the SEC's website located at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering may be obtained from the offices
of: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717 (telephone number:
866-803-9204) or from BofA Merrill Lynch, 4 World Financial Center, New
York, New York 10080, Attention: Prospectus Department or by emailing dg.prospectus_requests@baml.com.
The securities described above are being offered by Ironwood pursuant to
an automatically effective shelf registration statement that was
previously filed with the SEC. This press release shall not constitute
an offer to sell, or the solicitation of an offer to buy, any of the
securities, 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 such state or jurisdiction.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals (NASDAQ: IRWD) is an entrepreneurial
pharmaceutical company dedicated to the art and science of great
drugmaking. Linaclotide, Ironwood's GC-C agonist, is an investigational
drug for the treatment of irritable bowel syndrome with constipation
(IBS-C) and chronic constipation. The efficacy portion of linaclotide's
development program has been completed and supports the recently
submitted NDA for both indications, as well as the MAA submission in
Europe for the IBS-C indication. Ironwood also has a growing pipeline of
additional drug candidates in earlier stages of development. Ironwood is
located in Cambridge, Mass.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements. Investors are
cautioned not to place undue reliance on these forward-looking
statements, including, but not limited to, statements relating to
Ironwood's expectations regarding the completion, timing and net
proceeds of the offering. Each forward-looking statement is subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in such statement. Applicable
risks and uncertainties include, but are not limited to, those
associated with market conditions and the satisfaction of customary
closing conditions related to the offering. Applicable risks also
include those that are included in Ironwood's Quarterly Report on Form
10-Q for the three months ended September 30, 2011, in addition to the
risk factors that are included from time to time in Ironwood's Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any subsequent
SEC filings, including the prospectus supplement related to the offering
and filed with the SEC. Ironwood undertakes no obligation to update
these forward-looking statements to reflect events or circumstances
occurring after this press release. These forward-looking statements
speak only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary statement.

Ironwood Pharmaceuticals, Inc.
Susan Brady, 617-621-8304
Corporate
Communications
sbrady@ironwoodpharma.com
Source: Ironwood Pharmaceuticals, Inc.
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