Relypsa prices IPO at $11, below expectations
Relypsa, a late-stage biotech developing a treatment for hyperkalemia, raised $75 million by offering 6.9 million shares at $11, below the expected price of $12. Relypsa plans to list on the NASDAQ under the symbol RLYP. Relypsa initially filed confidentially on 8/2/2013. Morgan Stanley and BofA Merrill Lynch acted as lead managers on the deal.