ARTICLE | Financial News

Applied Genetic raises $50 million in IPO

March 28, 2014 12:50 AM UTC

Rare ophthalmic disease company Applied Genetic Technologies Corp. (NASDAQ:AGTC) raised $50 million in an IPO through a bumped-up number of shares below its price range. The company sold 4.2 million shares at $12, which values Applied Genetic at $160.7 million. Earlier this month, the company said it planned to sell 3.6 million shares at $13-$15. BMO Capital Markets; Wedbush PacGrow; Cantor Fitzgerald; and Roth Capital Partners are underwriters. Applied Genetic was up $2.76 (23%) to $14.76 on Thursday. ...