Ambit Biosciences Corporation (AMBI) Thursday said it priced the initial public offering of 8,125,000 shares at $8.00 per share. The stock is scheduled to begin trading on The NASDAQ Global Market on May 16 under the symbol 'AMBI.'
The firm said underwriters have been granted a 30-day option to purchase up to an additional 1,218,750 shares at the initial public offering price to cover over-allotments, if any.
The joint book-running managers for the offering are Citigroup and Leerink Swann. In addition, BMO Capital Markets is acting as lead manager and Robert W. Baird & Co. Inc. is acting as co-manager.
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