Finance History|Nasdaq MarketSite — Eighteen Dollars for Two Point Three Million Shares Called AMGN
· 1983-6
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Finance History|Nasdaq MarketSite — Eighteen Dollars for Two Point Three Million Shares Called AMGN
kevin
People treat Amgen as a Thousand Oaks weight that always printed AMGN on a mature Nasdaq book.
The first public print was a cash-short genetics shop that had not yet named a drug.
Applied Molecular Genetics Inc. incorporated in Thousand Oaks on 8 April 1980.
Company history records that the June 1983 offering, led by chief financial officer Gordon Binder, raised nearly 40 million U.S. dollars.
A later BusinessWeek account put the figures at 2.3 million shares sold at 18 U.S. dollars on 17 June 1983, for about 41 million U.S. dollars in 1983 currency.
The company changed its name to Amgen that same year.
The letters on the Nasdaq tape were AMGN.
Epogen was still a gene-hunt, not an approved product.
The same contemporary account said the stock did not see 18 U.S. dollars again for three years.
This Times Square studio did not yet exist; Nasdaq MarketSite opened on 1 January 2000.
The 1983 tape still belongs on the Nasdaq pilgrimage pin because that is where later AMGN openings were staged for the cameras.
The mechanism was a firm-commitment biotech offering used to refill a treasury that management expected to empty by September 1983.
Photo: Nasdaq MarketSite Times Square facade from the listing-collection cover.
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