BeyondSpring raises $54.3M in downsized IPO, placement

BeyondSpring Inc. (NASDAQ:BYSI) lost $3.20 (16%) to $16.80 in its first day of trading Thursday after raising a combined $54.3 million in a downsized IPO and concurrent private placement.

BeyondSpring raised $3.5 million through the sale of 174,286 shares at $20 in the IPO and $50.8 million through the sale of 2.5 million shares at $20 in the placement. The Rodman & Renshaw unit of H.C. Wainwright was the underwriter. Investors included Sangel Star Biomedical and HuaRong TianZe...