Recro Pharma to price initial public sale of stock March 6

Proceeds used for phase 2b bunionectomy trial, preclinical studies

By Aleesia Forni and Devika Patel

Virginia Beach, Feb. 19 - Recro Pharma, Inc. is expected to sell 2,545,455 common shares in its initial public offering of common stock on March 6, according to an informed source.

The sale will come with a 15% greenshoe of 381,818 additional shares, according to an FWP previously filed with the Securities and Exchange Commission. The deal was announced Oct. 24.

The shares will be sold at a price expected to fall between $10.00 and $12.00 per share.

Aegis Capital Corp. is the bookrunning manager. Brean Capital is the co-manager.

Proceeds will be used for the phase 2b bunionectomy trial, preclinical studies, two phase 3 pivotal trials, safety clinical trials and manufacturing work for Dex-IN, working capital needs and other general corporate purposes.

The clinical stage specialty pharmaceutical company is based in Malvern, Pa. The company expects its shares will trade on the Nasdaq under the symbol "REPH."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.