Biotech Microlin Bio increases deal size and replaces underwriter

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Microlin Bio, a development stage diagnostic and therapeutics company focusing on microRNA and its role in oncology, raised the proposed deal size for its upcoming IPO and changed underwriters on Wednesday. The New York, NY-based company now plans to raise $30 million by offering 2.7 million shares at a price range of $10 to $12. It had previously filed to offer 3.6 million shares at a range of $6 to $8. At the midpoint of the revised range, Microlin Bio will raise 20% greater proceeds than previously anticipated.

The amendment listed Brean Capital and Summer Street Research Partners as the joint bookrunners, replacing Sunrise Securities. Microlin no longer plans to tap one of its Directors as CFO and announced that it is searching for another person to fill the position. The company plans to list on the NASDAQ under the symbol MCLB. A pricing date has not been set.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: MCLB

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