ARTICLE | Financial News

ChemoCentryx raises $45M in IPO

February 9, 2012 2:14 AM UTC

ChemoCentryx Inc. (NASDAQ:CCXI) raised $45 million through the sale of 4.5 million shares at $10 in an IPO. Additionally, GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) and Techne Corp. (NASDAQ:TECH) agreed to purchase $7 million and $5 million, respectively, of ChemoCentryx's common stock at the IPO price in concurrent private placements. Including the private placements, the IPO values ChemoCentryx at $352.5 million. Last month, ChemoCentryx said it planned to sell 4 million shares at $14-$16. At the $15 mid-point of the original range and 4 million shares, the company would have raised $60 million and been valued at $510.3 million. JPMorgan; Citi; and Cowen are underwriters. ChemoCentryx was up $1 (10%) to $11 in its first day of trading on Wednesday. ...