Citigroup, Leerink are the joint bookrunners; JMP and Wedbush assist
By Devika Patel
Knoxville, Tenn., June 19 – Ardelyx, Inc. said it priced its $60 million initial public sale of stock with a $9 million greenshoe. The deal was announced on May 19.
The company will sell 4,286,000 common shares at $14.00 per share.
Settlement is expected on June 24.
Citigroup and Leerink Partners are the joint bookrunning 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.”
| Issuer: | Ardelyx, Inc.
|
| Issue: | Common stock
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| Amount: | $60 million
|
| Greenshoe: | $9 million
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| Shares: | 4,286,000
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| Price: | $14.00
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| Warrants: | No
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| Bookrunners: | Citigroup and Leerink Partners
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| Lead manager: | JMP Securities LLC
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| Co-manager: | Wedbush PacGrow Life Sciences
|
| Announcement date: | May 19
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Stock exchange: | Nasdaq: ARDX
|
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