Iterum Therapeutics Announces Pricing of Initial Public Offering
DUBLIN and CHICAGO, May 24, 2018 /PRNewswire/ -- Iterum Therapeutics plc (NASDAQ:ITRM), a clinical-stage pharmaceutical company developing anti-infectives aimed at combatting the global crisis of multi-drug resistant pathogens, today announced the pricing of its initial public offering of 6,150,000 ordinary shares at a price to the public of $13.00 per share, for total gross proceeds of approximately $80 million. All of the shares are being offered by Iterum Therapeutics. The shares are expected to begin trading on the Nasdaq Global Market on May 25, 2018 under the symbol "ITRM" and the offering is expected to close on May 30, 2018, subject to customary closing conditions. In addition, Iterum Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 922,500 ordinary shares to cover over-allotments, if any.
Leerink Partners and RBC Capital Markets are acting as joint book-running managers for the offering. Guggenheim Securities is acting as lead manager for the offering. Needham & Company is acting as co-manager for the offering.
The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering, when available, may be obtained from: Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6132, or by email at firstname.lastname@example.org; or from RBC Capital Markets, LLC, Attention: Equity Syndicate Department, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089, or by email at email@example.com.
A registration statement relating to these securities has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Chief Commercial Officer
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SOURCE Iterum Therapeutics
Released May 24, 2018