BELLUS Health, a Phase 2 biotech developing an oral small molecule therapy for chronic cough, raised $70 million by offering 9.9 million shares at $7.10, the as-converted last close of its shares on the TSX (BLU), to command a fully diluted market value of $408 million. The company had originally planned to raise $60 million by offering 8.5 million shares at $7.03.
BELLUS Health plans to list on the Nasdaq under the symbol BLU. Jefferies, Cowen and Guggenheim Securities acted as lead managers on the deal.
The article Canadian biotech BELLUS Health prices upsized $70 million US IPO at $7.10 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.
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