IPO News Archive
Rib-X Pharmaceuticals cuts price range
Rib-X Pharmaceuticals, a biotech developing new antibiotics for serious hospital and community infections, cut the price range for its upcoming IPO on Tuesday. The company now plans to raise $65 million by offering 10 million shares at a price range of $6 to $7. Rib-X had been seeking to raise $75 million by offering 5.8 million shares at $12 to $14. Deutsche Bank Securities is acting at the sole bookrunner on the deal.