BUZZ-Concordia Healthcare Corp: Raises $520 mln from offering

Wed Sep 30, 2015 12:04pm EDT
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** Canadian drug developer's U.S-listed shares up 10.5 pct at $39.84

** Says it raised $520 mln in gross proceeds through a public offering of 8 mln common shares

** Company to use the proceeds to fund a part of the purchase price and costs related to acquisition of Amdipharm Mercury Ltd

** Concordia signed an agreement with private equity firm Cinven earlier this month to buy Amdipharm in a deal worth about $3.5 bln

** Up to Tuesday's close, Concordia's stock had fallen 51 pct since Sept. 8, when the Amdipharm deal was announced