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Versartis prices IPO at $21, the high end of the revised range

By: Renaissance Capital
Posted: 3/21/2014 8:39:00 AM
Referenced Stocks: VSAR

Versartis, a biotech developing long-acting treatments for growth hormone deficiency, raised $126 million by offering 6.0 million shares at $21, the high end of the revised $19 to $21 range. The company originally planned to offer 4.6 million shares at $16 to $19 per share before upsizing the deal and raising the range on Wednesday. Versartis plans to list on the NASDAQ under the symbol VSAR. Morgan Stanley and Citi acted as joint bookrunners on the deal.