Praxis Precision Medicines Upsized IPO Priced Above Expectations
October 16 2020 - 6:34AM
Dow Jones News
By Colin Kellaher
Praxis Precision Medicines Inc. said its upsized initial public
offering of 10 million shares was priced at $19 apiece, above
increased expectations.
The Cambridge, Mass., clinical-stage biopharmaceutical company
backed by Blackstone Group Inc. Thursday had raised the size of the
IPO to 10 million shares priced between $17 and $18 each from prior
plans to offer 7.4 million shares at $16 to $18.
Praxis said it expects gross proceeds of $190 million, adding
that it granted the underwriters a 30-day option to buy up to an
additional 1.5 million shares.
Praxis shares are due to begin trading Friday under the symbol
PRAX.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 16, 2020 06:19 ET (10:19 GMT)
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