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Heat Biologics prices upsized IPO at $10, low end of the range

By: Renaissance Capital
Posted: 7/23/2013 6:30:00 PM
Referenced Stocks: HTBX

Heat Biologics, which is developing cellular therapeutic vaccines for cancer therapy, raised $25 million by offering 2.5 million shares at $10, the low end of the range of $10-$12. The company originally filed to sell 1.65 million shares, but later upsized the proposed deal size to 2.27 million. The eventual 2.5 million shares sold was 52% more than originally anticipated. Heat Biologics, which has a market cap of $61 million, plans to list on the NASDAQ under the symbol HTBX. Aegis Capital Corp. was the bookrunner on the deal.