ProNAi rises following $137.7M IPO

ProNAi Therapeutics Inc. (NASDAQ:DNAI) jumped $13.30 (81%) to $30.80 in its first day of trading Thursday after raising $137.7 million through the sale of 8.1 million shares at $17 in an IPO. The price valued the company at $490.1 million. Underwriters were Jefferies; BofA Merrill Lynch; Wedbush PacGrow; and SunTrust.

ProNAi filed last month to raise up to $86.3 million and said last week it hoped to sell 6.7 million shares at $14-$16. A sale of that many shares at $15 would have raised $100.5 million and valued the company at $409.7 million. ...