Published on 4/21/2006 in the Prospect News Biotech Daily.
New Issue: Omrix raises $34.4 million in IPO of 3.4 million shares at $10 each, cut from $15-$17 range
By Ronda Fears
Memphis, April 21 - Omrix Pharmaceuticals, Inc. raised $34.4 million from its initial public offering of 3.4 million common shares at $10 each - below the indicative range of $15 to $17 - via joint lead managers UBS Investment Bank as bookrunner and CIBC World Markets.
New York-based Omrix, which makes biosurgical and passive immunotherapy products, plans to use proceeds to expand manufacturing capabilities, to fund a plan to penetrate the market for biosurgical products in Japan and other countries and for general corporate purposes.
Issuer: | Omrix Pharmaceuticals, Inc.
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Issue: | Initial public offering of stock
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Gross proceeds: | $34,375,000
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Net proceeds: | $30 million
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Shares: | 3,437,500
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Greenshoe: | 515,625 shares
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Price: | $10 per share
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Price range: | $15 to $17
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Bookrunner: | UBS Investment Bank
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Joint lead manager: | CIBC world Markets
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Co-managers: | Leerink Swann & Co. and Oppenheimer & Co.
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Pricing date: | April 20
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Settlement date: | April 26
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Stock symbol: | Nasdaq: OMRI
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