Diplomat Pharmacy Prices IPO Below Range - Quick Facts

(RTTNews) - Diplomat Pharmacy Inc, Thursday priced its initial public offering at $13 a share, which is below its expected range of $14 to $16 a share. The company is offering about 13.33 million shares in the IPO.

The shares are expected to begin trading on the New York Stock Exchange under the symbol "DPLO" on October 10.

The company and selling shareholders each have granted the underwriters a 30-day option to purchase up to an additional 1 million shares (an aggregate of 2,000,000 shares) to cover over-allotments, if any.

Diplomat serves patients and physicians in all 50 states as the nation's largest independent specialty pharmacy. Based in Flint, Michigan, the company focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions.