Taiwan Liposome Company (TLC) Prices 3.75M ADS IPO at $5.80/ADS

Taiwan Liposome Company, Ltd. (NASDAQ: TLC), a clinical-stage specialty pharmaceutical company dedicated to the development and commercialization of novel nanomedicines designed to target areas of unmet medical need in pain management, ophthalmology, and oncology, today announced the pricing of its initial public offering of 3,750,000 American Depositary Shares (ADSs), each representing two of TLC’s common shares, at a public offering price of $5.80 per ADS, raising gross proceeds of approximately $21.75 million before deducting underwriting discounts, commissions and offering expenses.

In addition, TLC has granted the underwriters an option, exercisable at any time through and until one day before the closing date of the offering, to purchase up to 562,500 additional ADSs at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. TLC’s ADSs are expected to begin trading on the Nasdaq Global Market on November 21, 2018 under the symbol "TLC." The offering is expected to close on or around November 27, 2018, subject to customary closing conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. CLSA Limited, H.C. Wainwright & Co., LLC, Janney Montgomery Scott LLC, and Laidlaw & Company (UK) Ltd. are acting as co-managers.

You May Also Be Interested In

• Barrick Mining said to delay IPO of American gold business to 2027
• MediaAlpha names new CFO and raises Q3 2026 guidance
• Equity Bancshares to acquire Iowa's Lincoln Bancorp for $123.8M