Credit: Shutterstock photoSpero Therapeutics, which is developing treatments for drug-resistant bacterial infections, raised $77 million by offering 5.5 million shares at $14, the low end of the range of $14 to $16. It had previously filed to offer 5.0 million shares. Insiders indicated an interest in purchasing $30 million (39% of the deal) on the offering. Spero Therapeutics plans to list on the Nasdaq under the symbol SPRO. BofA Merrill Lynch, Cowen & Company and Stifel acted as lead managers on the deal.
The article Antibiotic biotech Spero Therapeutics prices IPO at $14 low end originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
