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Stealth BioTherapeutics Prices IPO At $12/ADS, The Low End Of Expected Range

Stealth BioTherapeutics (MITO) announced the pricing of initial public offering of 6.5 million American Depositary Shares or ADSs at $12.00 per ADS, the lower end of the expected range of between $12 and $14 per ADS. The offering is expected to close on February 20, 2019.

Stealth stated that its ADSs are expected to begin trading on February 15, 2019 under the ticker symbol "MITO."

The clinical-stage biotechnology company focused on novel therapies for diseases involving mitochondrial dysfunction expects total offering gross proceeds, before expenses, to be $78.0 million.

Stealth also granted the underwriters a 30-day option to buy additional 975,000 ADSs on the same terms and conditions.

Jefferies LLC, Evercore Group L.L.C. and BMO Capital Markets Corp. are acting as joint book-running managers for the offering. Nomura Securities International, Inc. is acting as the lead manager for the offering.

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