BioBlast Pharma Ltd. has raised $37 million in its Nasdaq IPO. The Israeli clinical-stage biotechnology company committed to developing treatments for rare and ultra-rare genetic diseases.
The company yesterday priced 3,200,000 ordinary shares at $11 per share for gross proceeds of $35.2 million before expenses. BioBlast has granted the underwriters a 30-day option to purchase up to 480,000 additional ordinary shares to cover over-allotments, if any.
The shares will begin trading today on Nasdaq under the ORPN ticker. The offering is expected to close on August 5, 2014, subject to customary closing conditions.
Oppenheimer & Co. and Roth Capital Partners acted as joint book-running managers for the offering while BTIG is co-manager.
Published by Globes [online], Israel business news - www.globes-online.com - on July 31, 2014
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