Benitec Biopharma prices significantly downsized US IPO at $9.21

Benitec Biopharma, which is developing a gene therapy platform based on DNA-directed RNA interference, raised $14 million by offering 1.5 million ADSs at $9.21. Each ADS was sold with one third of a warrant to purchase an ADS at a $5.50 exercise price. The company's ordinary shares trade on the Australian Stock Exchange under the ticker BLT. Benitec had originally planned to raise $65 million by offering 5 million ADSs but cut its deal and added warrants last week.

Benitec will list on the Nasdaq under the symbol BNTC. Maxim Group acted as sole bookrunner on the deal.