Stemline Therapeutics increases proposed IPO deal size
Stemline Therapeutics, a biotech developing treatments that target cancer stem cells and tumor bulk, raised the proposed deal size for its upcoming IPO on Wednesday. The New York, NY-based company now plans to raise $25 million by offering 2.3 million shares at a price range of $10 to $12. The company had previously filed to offer 1.8 million shares at a range of $10 to $12. At the midpoint of the revised range, Stemline Therapeutics will raise 25% greater proceeds than previously anticipated.
Stemline Therapeutics, which was founded in 2003, plans to list on the NASDAQ under the symbol STML. Aegis Capital is the sole bookrunner on the deal. The company has filed to change its terms several times and had scheduled pricing dates in both July and August before ultimately delaying its offering.