Nivalis gains after upsized $77M IPO

Nivalis Therapeutics Inc. (NASDAQ:NVLS) gained $0.92 to $14.92 in its first day of trading after raising $77 million through the sale of 5.5 million shares at $14 in a bumped-up IPO underwritten by Cowen; Stifel; Baird; and H.C. Wainwright. The price values the company at $204.8 million. Nivalis said earlier this month it hoped to sell 4.3 million shares at $13-$15. A sale of that many shares at $14 would have raised $60 million and valued the company at $187.8 million. ...