Vital to price initial public sale of stock between $16.00 and $18.00

Credit Suisse, William Blair are bookrunners; Cowen, Canaccord assist

By Devika Patel

Knoxville, Tenn., Nov. 6 - Vital Therapies, Inc. will sell 4.4 million common shares in its initial public offering with a greenshoe of 660,000 additional shares, according to a Form S-1/A filed Wednesday with the Securities and Exchange Commission. The deal was announced on Oct. 11.

The shares will be sold at a price expected to fall between $16.00 and $18.00 per share.

Credit Suisse and William Blair are the joint bookrunning managers. Cowen and Co. and Canaccord Genuity are the co-managers.

Proceeds will be used for the development and possible approval of ELAD, the phase 3 clinical development of ELAD, working capital and other general corporate purposes.

The biotherapeutic company is based in San Diego. It intends to list its common stock on the Nasdaq under the symbol "VTL."

© 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.