Biotie registers $60 million of stock for initial public sale of ADSs

RBC Capital Markets and Stifel, JMP Securities and Roth Capital assist

By Devika Patel

Knoxville, Tenn., May 14 – Biotie Therapies Corp. will price its initial public sale of American Depositary Shares, according to a Form F-1 filed Thursday with the Securities and Exchange Commission. The deal will have a 30-day greenshoe option, and the company has registered up to $60 million of stock.

RBC Capital Markets, LLC and Stifel, Nicolaus & Co., Inc. are the bookrunning managers; JMP Securities LLC is the lead manager, and Roth Capital Partners, LLC is the co-manager.

Proceeds will be used for clinical trials.

The biopharmaceutical company is based in Turku, Finland. It expects the ADSs to trade on the Nasdaq under the symbol “BITI.”

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