Opthea (OPT) IPO Opens 15% Lower

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Go back to Opthea (OPT) IPO Opens 15% Lower

Opthea Announces Pricing of Initial Public Offering in the United States

October 16, 2020 11:20 AM EDT

MELBOURNE, Australia, Oct. 16, 2020 (GLOBE NEWSWIRE) -- Opthea Limited (ASX:OPT, Nasdaq: OPT), a clinical stage biopharmaceutical company developing a novel therapy to treat highly prevalent and progressive retinal diseases, today announces the pricing of its initial public offering in the United States (the Offering) of 8,563,300 American Depositary Shares (ADS), representing 68,506,400 ordinary shares, at an initial public offering price of US$13.50 per ADS, before underwriting discounts and commissions. In addition, and in lieu of ADSs, the Company offered and sold to certain investors pre-funded warrants to purchase 936,700 ADSs at a public offering price of US$13.49999... More