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United Defense raises $400M
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December 13, 2001: 6:52 p.m. ET
Military contractor sells 21.1M shares at $19 via Lehman, Goldman.
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NEW YORK (CNN/Money) - United Defense Industries Inc. raised $400.9 million Friday ahead of its initial public offering.
The Arlington, Va.-based company sold 21.1 million shares at $19, the mid-point of its $18 to $20 price range, via lead underwriters Lehman Brothers and Goldman Sachs.
United Defense company makes and designs combat vehicles, naval guns and missile launchers. It also is a prime contractor on several U.S. military programs.
The company plans to trade under the New York Stock Exchange symbol "UDI."
American Pharmaceutical Partners Inc., which specializes in injectable pharmaceutical products, raised $144 million with its IPO.
The company priced 9 million shares at $16 per share, the top of its expected range, through lead underwriters CIBC World Markets.
American Pharmaceutical earned more than $6.6 million in 2000, with sales of more than $165 million. The stock will trade as "APPX" on the Nasdaq. 
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