Versartis, Inc. Announces Closing Of Its Initial Public Offering And Full Exercise Of Over-Allottment Option

REDWOOD CITY, Calif., March 26, 2014 (GLOBE NEWSWIRE) -- Versartis, Inc., (Nasdaq:VSAR) an endocrine-focused biopharmaceutical company, today announced the closing of its initial public offering of 6,900,000 shares of its common stock at a public offering price of $21 per share, which included 900,000 shares sold pursuant to the exercise in full by the underwriters of their option to purchase additional shares. The shares began trading on the NASDAQ Global Select Market under the ticker symbol "VSAR" on March 21, 2014. Versartis estimates net proceeds from the offering to be approximately $132.4 million after deducting underwriting discounts and commissions and estimated offering expenses. Morgan Stanley and Citigroup acted as joint book-running managers for the offering. Cowen & Company acted as lead manager and Canaccord Genuity acted as co-manager.

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