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GlycoMimetics prices upsized IPO at $8 per share

By: Renaissance Capital
Posted: 1/10/2014 7:46:00 AM
Referenced Stocks: GLYC

GlycoMimetics, a clinical-stage biotech developing treatments for sickle cell episodes and AML, raised $56 million by offering 7.0 million shares at $8, the lower revised price. The company upsized its IPO selling 22% more shares than previously anticipated (5.8 million). The company had originally filed to offer 4.0 million shares at a range of $14 to $16 before cutting the deal size Tuesday morning. GlycoMimetics plans to list on the NASDAQ under the symbol GLYC. GlycoMimetics initially filed confidentially on August 21, 2013. Jefferies and Barclays acted as lead managers on the deal.