S1 Biopharma amends IPO

S1 Biopharma Inc. (New York, N.Y.) amended its IPO on NASDAQ and plans to sell 1.75 million units at $12-$14. At $13, the company would raise $22.8 million and be valued at $105.7 million. Each unit comprises one share and one each of series A and series B warrants to purchase an additional share at the IPO price. The series A warrants expire in 2019 and the series B warrants expire in 2016. MLV and Northland Securities are underwriters.

S1 filed to raise up to $40.3 million on Oct. 1. Last month, the company amended its IPO to sell 2.8 million shares, without warrants, at $12-$14. The company is classified as an "emerging growth company" under the Jumpstart Our Business Start-Ups (JOBS) Act of 2012. ...