Cambridge's SAGE Therapeutics Ups Proposed IPO Deal Size
7/17/2014 8:46:21 AM
Sage Therapeutics, which is developing treatments for life-threatening epileptic seizures, raised the proposed deal size for its upcoming IPO on Thursday. The Cambridge, MA-based company now plans to raise $88 million by offering 5 million shares at a price range of $17 to $18. The company had previously filed to offer 4 million shares at a range of $14 to $16.
At the midpoint of the revised range, Sage Therapeutics will raise 46% greater proceeds than previously anticipated at a market cap of $463 million, up 21% from its prior $382 million market cap.
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