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Delayed-release aspirin developer PLx Pharma sets terms for $68 million IPO

PLx Pharma, which is commercializing a delayed-release aspirin based on its proprietary lipid coating, announced terms for its IPO on Friday.

The Houston, TX-based company plans to raise $68 million by offering 3.8 million shares at a price range of $17 to $19. At the midpoint of the proposed range, PLx Pharma would command a fully diluted market value of $176 million.

Primary shareholders include Ronald Zimmerman (5% post-IPO stake), Integra Ventures (4%), Aurus (4%), Charles Sheedy (3%), Reed Morian (3%) and David Jorden (2%).

PLx Pharma was founded in 2002 and plans to list on the Nasdaq under the symbol PLXP. Raymond James, Maxim Group LLC and Janney Montgomery Scott are the joint bookrunners on the deal. It is expected to price the week of January 25th.

The article Delayed-release aspirin developer PLx Pharma sets terms for $68 million IPO 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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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