CRISPR Therapeutics raises $91M in listing, placement

Gene editing company CRISPR Therapeutics AG (NASDAQ:CRSP) gained $0.09 to $14.09 in its first day of trading Wednesday after raising a combined $91 million in a downsized IPO and concurrent private placement.

CRISPR Therapeutics raised $56 million through the sale of 4 million shares at $14 in the IPO. Citigroup, Piper Jaffray, Barclays and Guggenheim were underwriters. Separately, the company raised $35 million through the sale of 2.5 million shares at $14 to existing shareholder Bayer Global Investments. The investor's parent company, Bayer AG (Xetra:BAYN), formed a joint venture with CRISPR Therapeutics in December 2015 (see BioCentury, Jan. 4). ...