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Otonomy to price its IPO of 5,333,333 shares between $14.00 and $16.00
JPMorgan and BofA Merrill Lynch to be bookrunning managers for deal
By Devika Patel
Knoxville, Tenn., Aug. 1 – Otonomy, Inc. will sell 5,333,333 common shares in its initial public offering with a 30-day greenshoe option for 800,000 additional shares, according to an S-1/A filing made Friday with the Securities and Exchange Commission. The deal was announced July 11.
The shares will be sold at a price expected to fall between $14.00 and $16.00 each.
J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint bookrunning managers. Piper Jaffray & Co. is the lead manager, and Sanford C. Bernstein & Co., LLC is the co-manager.
Proceeds will be used to prepare for the commercialization of AuriPro, for clinical and preclinical development, clinical trials, research and development, working capital and general corporate purposes.
The biopharmaceutical company is based in San Diego. The company intends to list its common stock on the Nasdaq Global Market under the symbol “OTIC.”
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