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ARTICLE | Financial News

Scynexis raises $62 million in IPO

May 3, 2014 1:30 AM UTC

Scynexis Inc. (NASDAQ:SCYX) was off $1 (10%) to $9 on its first day of trading Friday after raising $62 million through the sale of 6.2 million shares at $10 in an IPO. The price values the company at $84.5 million after adjusting for a reverse stock split implemented last week. Last month, Scynexis said it planned to sell 7.3 million shares at $7-$8; on Wednesday, the company said planned to sell 6.2 million shares at $10. RBC Capital Markets; Canaccord; and JMP Securities are underwriters. ...