The underwriters of Nivalis Therapeutics Inc.’s recent IPO fully exercised their options to purchase additional shares, resulting in aggregate proceeds of $88.55 million, before expenses, for the Boulder-based clinical-stage pharmaceutical firm, officials said Tuesday.
(Nasdaq: NVLS) last week, selling 5.5 million shares at $14 per share. The underwriters had an option to purchase an additional 825,000 shares.
Since the offering, Nivalis’ shares have traded as high as $17.84 and closed Monday at $14.76.
Cowen and Co. and Stifel were the joint, lead book-running managers for the offering. Baird and H.C. Wainwright & Co. acted as co-managers for the offering.
Proceeds from the offering will be put toward continued development of N9115, its lead cystic fibrosis treatment compound, in addition to general corporate purposes.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or twitter.com/aliciawallace
