Ardelyx to price IPO of 3.6 million shares between $13.00 and $15.00

Citigroup, Leerink are the joint bookrunners; JMP and Wedbush assist

By Devika Patel

Knoxville, Tenn., June 9 – Ardelyx, Inc. will sell 3.6 million common shares in its initial public offering with a 30-day greenshoe option of 540,000 additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced May 19.

The shares will be sold at a price expected to fall between $13.00 and $15.00 per share.

Citigroup and Leerink Partners are the joint bookrunning managers. JMP Securities and Wedbush PacGrow Life Sciences are the co-managers.

Proceeds will be used for discovery and development, working capital and other corporate purposes.

The biopharmaceutical company is based in Fremont, Calif. The company intends to list its common stock on the Nasdaq under the symbol “ARDX.”

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