Mapi Pharma Tries Again to List on Nasdaq, Sets Terms for $50 Million IPO

Mapi-Pharma, which is developing extended-release formulations of existing drugs and generics, announced terms for its IPO on Friday.

The Ness Ziona, Israel-based company plans to raise $50 million by offering 3.1 million shares (10% insider) at a price range of $15 to $17. At the midpoint of the proposed range, Mapi-Pharma would command a fully diluted market value of $194 million.

The company originally filed in March 2014 for a $49 million IPO with Aegis Capital listed as the sole bookrunner. After decreasing the shares offered and cutting its deal size multiple times, Mapi-Pharma postponed the IPO in July 2014.

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