Avalanche Biotechnologies Prices Initial Public Offering of $102.0 Million of Common Stock
MENLO PARK, Calif., July 31, 2014 -- Avalanche Biotechnologies, Inc., a clinical-stage biotechnology company focused on discovering and developing novel gene therapies to transform the lives of patients with sight-threatening ophthalmic diseases, today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at a public offering price of $17.00 per share, before underwriting discounts, commissions and estimated expenses. All of the shares of common stock are being offered by Avalanche. The Company's common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading today under the ticker symbol "AAVL". In addition, Avalanche has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock at the offering price. The offering is expected to close on August 5, 2014, subject to customary closing conditions.
- Published: 31 July 2014
- Written by Editor