IPOs

Israeli pain relief biotech PainReform revises terms for $23 million US IPO, now offering units

PainReform, a Phase 2 Israeli biotech developing therapies for post-operative pain relief, revised the terms for its upcoming IPO on Monday.

The Herzliya, Israel-based company now plans to raise $23 million by offering 2.6 million units at a price range of $8 to $10. Each unit consists of one share of common stock and one warrant, exercisable at $9.90. The company had previously filed to offer 2.6 million shares of common stock at the same range. Because the company is now offering units with warrants attached, PainReform no longer qualifies for tracking and will be excluded from Renaissance Capital's stats.

PainReform was founded in 2007 and plans to list on the Nasdaq under the symbol PRFX. Maxim Group LLC and Joseph Gunnar are the joint bookrunners on the deal.

The article Israeli pain relief biotech PainReform revises terms for $23 million US IPO, now offering units 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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