New Issue: Omrix raises $34.4 million in IPO of 3.4 million shares at $10 each, cut from $15-$17 range

By Ronda Fears

Memphis, April 21 - Omrix Pharmaceuticals, Inc. raised $34.4 million from its initial public offering of 3.4 million common shares at $10 each - below the indicative range of $15 to $17 - via joint lead managers UBS Investment Bank as bookrunner and CIBC World Markets.

New York-based Omrix, which makes biosurgical and passive immunotherapy products, plans to use proceeds to expand manufacturing capabilities, to fund a plan to penetrate the market for biosurgical products in Japan and other countries and for general corporate purposes.

Issuer:	Omrix Pharmaceuticals, Inc.
Issue:	Initial public offering of stock
Gross proceeds:	$34,375,000
Net proceeds:	$30 million
Shares:	3,437,500
Greenshoe:	515,625 shares
Price:	$10 per share
Price range:	$15 to $17
Bookrunner:	UBS Investment Bank
Joint lead manager:	CIBC world Markets
Co-managers:	Leerink Swann & Co. and Oppenheimer & Co.
Pricing date:	April 20
Settlement date:	April 26
Stock symbol:	Nasdaq: OMRI

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