Vivus makes public offering

US drugmaker Vivus says it has agreed to sell 6,250,000 shares of its common stock in an underwritten public offering. The shares will be available to the public at a price per share of $3.40, for total gross proceeds of some $21.3 million.

The company also granted the underwriters a 30-day option to purchase up to an additional 937,500 shares to cover over-allotments. All the shares are being offered by Vivus. SG Cowen is acting as the lead manager for the proposed offering, while Wachovia Capital Markets is co-manager.