ARTICLE | Financial News
Rhythm withdraws IPO after Actavis deal
October 31, 2014 2:37 AM UTC
Rhythm Holding Co. LLC (Boston, Mass.) withdrew its proposed IPO on NASDAQ. Last week, the company received $40 million up front in a deal giving Actavis plc (NYSE:ACT) an option to acquire a Rhythm subsidiary that is developing relamorelin ( RM-131).
In August, Rhythm filed to raise up to $86.3 million in an IPO underwritten by Citigroup; Cowen; Canaccord Genuity; Oppenheimer; and Cantor Fitzgerald. ...