17th May 2018 12:47
LONDON (Alliance News) - Healthcare company Arix Bioscience PLC said Thursday that its group business Iterum Therapeutics, which develops anti-infectives to combat multi-drug resistant diseases, has filed an amended Form S-A for an initial public offering in the US.
The form filed to the US Securities and Exchange Commission has stated an expected pricing range of USD14 to USD16 per share, meaning that Arix's current holdings in Iterum would be valued at GBP8.1, compared to the cost to date of GBP9.0 million.
Assuming the price is at the top of the range, and the 15% option proposed is granted to the underwriters to cover over-allotments, the maximum offering will be USD85.3 million.
Shares in Arix Bioscience remained broadly flat at 209.15 pence on Thursday.
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