Alzheimer's biotech Alzheon decreases proposed IPO deal size

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Alzheon, a Phase 3 biotech developing small molecule therapies for Alzheimer's disease, lowered the proposed deal size for its upcoming IPO on Friday.

The Framingham, MA-based company now plans to raise $30 million by offering 6 million shares at a price range of $4 to $6. The company had previously filed to offer 2.5 million shares at a range of $13 to $15. At the midpoint of the revised range, Alzheon will raise 14% less in proceeds than previously anticipated. 

Alzheon was founded in 2013 and plans to list on the Nasdaq under the symbol ALZH. ThinkEquity and H.C. Wainwright are the joint bookrunners on the deal. 

The article Alzheimer's biotech Alzheon decreases proposed IPO deal size originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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