GlycoMimetics, Inc. (GLYC: Quote) said it is offering 4.0 million common shares in its initial public offering or IPO and no public market currently exists for its common stock. The IPO price is expected to be between $14.00 and $16.00 per share. In additon, the underwriters were granted an option for a period of 30 days from the date of this prospectus to buy an additional 600,000 shares of its common stock.
The firm expects the net proceeds from this offering, after expenses, to be about $53.3 million, based on an assumed initial public offering price of $15.00 per share, which is the midpoint of the price range.
Further, the company has applied to list its stock on The NASDAQ Global Market under the symbol "GLYC."
by RTT Staff Writer
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