Versartis, Inc., a US-based biotechnology company developing therapeutic proteins for the treatment of metabolic diseases and endocrine disorders, has completed its initial public offering (IPO) of 6.9 million shares of common stock, including 0.9 million shares sold pursuant to the exercise of the underwriters' over-allotment option, at a price of $21 per share for gross proceeds of $144.9 million.
Update on March 20, 2014:
Versartis has priced its proposed its IPO of 6 million shares of common stock at a price of $21 per share to raise gross proceeds of $126 million.
Versartis has granted the underwriters a 30-day option to purchase up to an additional 0.9 million shares of common stock at offering price.
The offering is expected to close on March 26, 2014.
Update on March 19, 2014:
Versartis has increased the proposed size of its IPO from 4.6 million shares to 6 million shares of common stock, and increased the price range from $16 and $19 per share to $19 and $21 per share. The gross proceeds from the offering are expected to be between $114 million and $126 million.
Update on March 10, 2014:
Versartis has set the price band for its proposed IPO of 4.6 million shares at a price between $16 and $19 per share. The gross proceeds from the offering are expected to be between $73.6 million and $87.4 million.
Versartis intend to list its common stock on The NASDAQ Global Market under the trading symbol ?VSAR?.
Announcement (February 18, 2014):
Versartis has filed a registration statement with the US Securities and Exchange Commission (SEC) for a proposed IPO of common stock to raise approximately $80 million.
Versartis has granted the underwriters a 30-day option to purchase additional shares of its common stock.
Morgan Stanley & Co. LLC, and Citigroup Global Markets, Inc. are acting as joint book-running managers, Cowen and Company, LLC and Canaccord Genuity, Inc. are acting as underwriters for the offering.