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Merrimack prices IPO at $7, raising $100 million in proceeds

By Renaissance Capital,  March 28, 2012, 05:52:20 PM EDT

Merrimack Pharmaceuticals, which uses its Network Biology system to discover and develop cancer treatments, raised $100 million by offering 14.3 million shares at $7 on Wednesday evening. The Cambridge, MA-based company had originally planned to offer 16.67 million shares at a range of $8-$10 but postponed its offering in mid-January before making a second attempt to go public at the revised terms. J.P. Morgan acted as lead managers on the IPO, and the stock is expected to commence trading on the NASDAQ under the ticker symbol MACK on Thursday.




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: Investing, IPOs

Referenced Stocks: MACK



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