Back to Main

Auspex Pharmaceuticals prices IPO at $12, the high end of the range, and increases deal size

By: Renaissance Capital
Posted: 2/5/2014 8:23:00 AM
Referenced Stocks: ASPX

Auspex Pharmaceuticals, a late-stage biotech developing treatments for CNS disorders, raised $84 million by offering 7 million shares at $12, the high end of the range. Yesterday, the company had increased its deal size from 5.5 million shares to 6 million at a proposed range of $10 to $12. Auspex raised 27% greater proceeds than yesterday's upward revision and now commands a market cap of $270 million (previously $237 million). Auspex Pharmaceuticals, which was founded in 2001, plans to list on the NASDAQ under the symbol ASPX. Stifel and BMO Capital Markets are the joint bookrunners on the deal.