Absorbable Drugs Biotech Innocoll, Inc. Sets Terms For $75 Million IPO
7/16/2014 6:17:34 AM
Innocoll, which develops collagen-based products to treat pain, foot infections and adhesions, announced terms for its IPO on Tuesday. The Athlone, Ireland-based company plans to raise $75 million by offering 5.4 million ADSs at a price range of $13 to $15. At the midpoint of the proposed range, Innocoll would command a fully diluted market value of $292 million.
Innocoll, which was founded in 1997 and booked $5 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol INNL. Piper Jaffray and Stifel are the joint bookrunners on the deal.
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