Longboard Prescription drugs Declares Pricing for Nasdaq Preliminary Public Providing: LBPH
SAN DIEGO, March 11, 2021 (GLOBE NEWSWIRE) – Longboard Prescription drugs, Inc., a clinical-stage biopharmaceutical firm centered on the event of novel transformative medication for neurological ailments, immediately introduced its IPO worth of 5,000,000 of its frequent inventory at a public worth of $ 16.00 per share. The gross proceeds of the Supply for Longboard, earlier than deduction of reductions and subscription commissions and estimated bills of the Supply, are anticipated to be $ 80.0 million.
Longboard was fashioned in January 2020 by Area Prescription drugs, Inc. (Area) to advance a portfolio of centrally performing product candidates designed to be extremely selective for particular G protein coupled receptors (GPCRs).
The shares are anticipated to start buying and selling on the Nasdaq International Market on March 12, 2021, underneath the image “LBPH”. The provide is anticipated to shut on March 16, 2021, topic to compliance with customary closing circumstances. As well as, Longboard has granted the underwriters a 30-day choice to buy as much as 750,000 extra frequent shares on the worth of the preliminary public providing, much less subscription rebates and commissions. All actions are provided by Longboard.
Citigroup, Evercore ISI, Guggenheim Securities and Cantor are performing as joint bookkeepers for the providing.
The provide is being made solely via a prospectus. Copies of the ultimate prospectus referring to the providing could also be obtained, when out there, from: Citigroup International Markets, Inc., c / o Broadridge Monetary Options, 1155 Lengthy Island Avenue, Edgewood, NY 11717 or by phone at (800) 831-9146; Evercore Group LLC, Consideration: Fairness Capital Markets, 55 East 52nd Road, thirty sixth Ground, New York, NY 10055, by telephone at (888) 474-0200, or by e mail at [email protected]; Guggenheim Securities, LLC, Attn .: Fairness Syndicate Division, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-5548, or by e mail at [email protected]; and Cantor Fitzgerald & Co., Attn .: Capital Markets, 499 Park Avenue, New York, NY 10022, or by e mail at [email protected]
A registration assertion relating to those securities has been filed with the Securities and Alternate Fee and was declared efficient on March 11, 2021. This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase , and there will not be both. the sale of such securities in any state or jurisdiction by which such providing, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of such state or jurisdiction.
About Longboard Prescription drugs
Longboard Prescription drugs, Inc. is a clinical-stage biopharmaceutical firm centered on the event of novel transformative medication for neurological ailments. Longboard was fashioned in January 2020 by Area to advance a portfolio of centrally performing product candidates designed to be extremely selective for particular GPCRs. Longboard’s small molecule product candidates had been found on the identical platform at Area, representing the end result of over 20 years of GPCR analysis. Longboard is evaluating LP352, an oral superagonist of the centrally performing 5-hydroxytryptamine 2c receptor subtype, in improvement for the potential therapy of developmental and epileptic encephalopathies. Longboard can also be evaluating LP143, a centrally performing cannabinoid kind 2 receptor agonist, in improvement for the potential therapy of neurodegenerative ailments related to neuroinflammation attributable to microglial activation, and LP659, a subtype 1 and 5 modulator, in improvement for the potential therapy of neuro-inflammatory ailments of the central nervous system.
Company Contact: Megan E. Knight Head of Investor Relations 619.592.9775