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Axovant shares nearly double after upsized $315M IPO
June 12, 2015 1:06 AM UTC
Axovant Sciences Ltd. (NYSE:AXON) gained $14.90 (99%) to $29.90 in its first day of trading Thursday, giving it a market cap of $2.9 billion, after it raised $315 million in an IPO through the sale of 21 million shares at $15. Jefferies; Evercore; RBC Capital Markets; JMP Securities; and Baird were underwriters.
In May, Axovant filed to raise up to $172.5 million. Earlier this month, it said it hoped to sell 17.9 million shares at $13-$15. A sale of that many shares at $14 would have raised $250.6 million and valued the company at $1.3 billion. ...