IPOs

Israeli pain relief biotech PainReform prices US IPO at $8 low end

PainReform, a Phase 2 Israeli biotech developing therapies for post-operative pain relief, raised $20 million by offering 2.5 million units at $8, the low end of the range of $8 to $10. Each unit consists of one share of common stock and one warrant, exercisable at $8.80. The company offered 50,000 less units than anticipated. It originally planned to offer 2.6 million shares at the same range before revising its offering to units. Because the company's offering has warrants attached, PainReform is excluded from Renaissance Capital's stats.

PainReform plans to list on the Nasdaq under the symbol PRFX. Maxim Group LLC and Joseph Gunnar acted as lead managers on the deal.

The article Israeli pain relief biotech PainReform prices US IPO at $8 low end 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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