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Versartis to price initial public offering of 6 million common shares
Company to sell shares at $19.00 to $21.00; deal includes greenshoe
By Marisa Wong
Madison, Wis., March 19 - Versartis, Inc. plans to offer 6 million shares of common stock at $19.00 to $21.00 per share in its previously announced initial public offering, according to an FWP filing with the Securities and Exchange Commission.
The offering will have a greenshoe for 900,000 additional shares.
As previously noted, Morgan Stanley and Citigroup are the joint bookrunning managers. Cowen and Co. is the lead manager, and Canaccord Genuity is the co-manager.
Proceeds will be used for the phase 3 clinical trial of VRS-317, capital, capital expenditures and other general corporate purposes.
The endocrine-focused biopharmaceutical company is based in Redwood City, Calif.
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