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Biotech Heat Biologics increases shares sold, proposed IPO deal size now $25 million
By: Renaissance Capital
Heat Biologics, which is developing cellular therapeutic vaccines for cancer therapy, raised the proposed deal size for its upcoming IPO on Monday. The Chapel Hill, NC-based company now plans to raise $25 million by offering 2.3 million shares at a price range of $10 to $12. The company had previously filed to offer 1.7 million shares at the same range. At the midpoint of the revised range, Heat Biologics will raise 38% greater proceeds than previously anticipated. Heat Biologics, which was founded in 2008, plans to list on the NASDAQ under the symbol HTBX. Heat Biologics initially filed confidentially on December 24, 2012. Aegis Capital is the sole bookrunner on the deal.