Deal prices at $10.00, below expected range of $14.00-$16.00 per share
By Susanna Moon
Chicago, May 19 – Merus BV priced its $55 million initial public offering of stock with a greenshoe of 825,000 additional shares. As updated on May 9, the company registered to sell up to $79,733,328 of stock for the deal, announced Oct. 19.
The company priced 5.5 million common shares at $10.00 per share, according to a company announcement.
The shares sold at a price below the range expected of between $14.00 and $16.00 per share.
The shares are expected to begin trading Thursday on the Nasdaq stock exchange under the symbol “MRUS.”
Citigroup Global Markets Inc. and Jefferies LLC are the joint bookrunning managers. Guggenheim Securities, LLC is a joint lead manager.
Proceeds will be used for clinical development, research and development activities and for working capital and other general corporate purposes.
The immuno-oncology company is based in Utrecht, the Netherlands.
| Issuer: | Merus BV
|
| Issue: | Common stock
|
| Amount: | $55 million
|
| Greenshoe: | $8.25 million, or 825,000 shares
|
| Shares: | 5.5 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunners: | Citigroup Global Markets Inc. and Jefferies LLC
|
| Lead manager: | Guggenheim Securities, LLC
|
| Co-manager: | Wedbush PacGrow
|
| Announcement date: | Oct. 19, 2015
|
| Pricing date: | May 19
|
| Stock symbol: | Nasdaq: MRUS
|
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