ADHD treatment developer Alcobra has expanded its planned Nasdaq offering to 2,275,000 shares from the 1,365,000.
Attention deficit hyperactivity disorder (ADHD) treatment developer Alcobra Ltd. has expanded its planned Nasdaq offering to 2,275,000 shares from the 1,365,000 shares in the draft prospectus filed with the US Securities and Exchange Commission (SEC) in January. The company reiterated the price range of $10-12 per share for the offering, indicating that it now hopes to raise a gross $22.8-27.3 million, with a midpoint of $25 million. It previously planned to raise a gross $13.7-16.4 million.
Alcobra plans to hold its IPO later this month. Aegis Capital Corporation is the underwriter, and will receive an over-allotment option to buy up to 341,250 shares, which if exercised in full will increase the IPO by a gross $2.5-4.1 million. Alcobra will be listed under the ticker "ADHD".
Published by Globes [online], Israel business news - www.globes-online.com - on May 5, 2013
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