Ascendis Pharma (ASND) Prices 6M IPO at $18/ADS
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Ascendis Pharma A/S (Nasdaq: ASND), a clinical stage biopharmaceutical company, today announced the pricing of its initial public offering of 6,000,000 American Depositary Shares (ADSs), representing 6,000,000 Ascendis ordinary shares, at a price to the public of $18.00 per ADS. The ADSs are expected to begin trading on The NASDAQ Global Select Market on January 28, 2015 under the ticker symbol "ASND." All of the ADSs are being offered by Ascendis. Ascendis expects to close its initial public offering on or about February 2, 2015, subject to satisfaction of customary closing conditions. In addition, Ascendis has granted the underwriters a 30-day option to purchase up to an additional 900,000 ADSs. Ascendis estimates net proceeds from the offering to be approximately $96.4 million (assuming no exercise of the underwriters' option to purchase additional ADSs), after deducting underwriting commissions and estimated offering expenses.
BofA Merrill Lynch and Leerink Partners are acting as joint book-running managers for the offering. Wells Fargo Securities is acting as co-manager.
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