Ritter to price IPO of 1.82 million shares between $10.00 and $12.00

Deal funds clinical development and trials, manufacturing, development

By Devika Patel

Knoxville, Tenn., April 24 – Ritter Pharmaceuticals, Inc. will sell 1.82 million common shares in its initial public offering with a 45-day greenshoe option of 273,000 additional shares, according to a Form S-1/A filed Friday with the Securities and Exchange Commission. The company has registered up to $26.21 million of stock for the deal, which was announced on March 23.

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

Aegis Capital Corp. and Chardan Capital Markets, LLC are the bookrunners and Barrington Research is the co-manager.

Proceeds will be used for clinical development and trials, manufacturing and product development, research, general corporate purposes, general and administrative expenses, capital expenditures, working capital and maintenance of intellectual property.

The Los Angeles company develops therapeutic products that modulate the human gut microbiome to treat gastrointestinal diseases. The company expects its shares will trade on the Nasdaq under the symbol “RTTR.”

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