ARTICLE | Financial News

Axsome dips after $51M IPO

November 20, 2015 1:56 AM UTC

Axsome Therapeutics Inc. (NASDAQ:AXSM) slipped $0.26 to $8.74 on Thursday after raising $51 million through the sale of 5.7 million shares at $9 in an IPO underwritten by Ladenburg Thalmann, Cantor Fitzgerald and Brean Capital. The deal price valued the company at $172.2 million.

Axsome filed in October to raise up to $57.5 million. Earlier this month, it said it hoped to sell 4.3 million shares at $11-$13. At $12, it would have raised $51 million and been valued at $212.6 million. ...