BioCentury
ARTICLE | Financial News

Ambit raises $65 million in IPO

May 17, 2013 1:32 AM UTC

Ambit Biosciences Corp. (NASDAQ:AMBI) was off $0.61 to $7.39 in its first day of trading on Thursday after the company raised $65 million through the sale of 8.1 million shares at $8 in an IPO. Citigroup; Leerink; BMO Capital Markets; and Baird are underwriters. The price values the company at $141.7 million. Ambit proposed to raise up to $57.5 million in the IPO in February. ...