Hoth Therapeutics, which is developing topical treatments for eczema, lowered the proposed deal size for its upcoming IPO on Friday.
The New York, NY-based company now plans to raise $8 million by offering 1.3 million shares at a price range of $5.50 to $6.50. The company had previously filed to offer 1.8 million shares at the same range. At the midpoint of the range, Hoth Therapeutics will raise 29% less in proceeds than previously anticipated.
Hoth Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol HOTH. Laidlaw & Company (UK) is the sole bookrunner on the deal.
