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Mapi-Pharma plans to raise $43m on Nasdaq

23 Apr, 2014 10:05
שלח תגובה במיילGali Weinreb

The company will offer 2.9 million shares at a company value of $200-230 million.

Mapi-Pharma Ltd., which is developing delayed-release versions of various drugs, including Teva Pharmaceutical Industries Ltd.'s (NYSE: TEVA; TASE: TEVA) Copaxone, has updated its prospectus for its Nasdaq IPO. The company plans to offer 2.9 million shares at $13-15 per share to raise $37.1-42.9 million at a company value of $200-230 million, after money (midpoint $40 million at a company value of $215 million). If the underwriter, Aegis Capital, exercises its over-allotment option in full, the gross proceeds will rise to $49 million. The company will be listed under the ticker "MAPI".

Mapi-Pharma was founded in 2008 by chairman and CEO Ehud Marom, a former COO at Teva. The Ness Ziona-based company has subsidiaries in Europe and Asia. It is building a production plant for intermediates and active pharmaceutical ingredients (API) at Ramat Hovav and is establishing its presence in China.

Published by Globes [online], Israel business news - www.globes-online.com - on April 23, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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