April 29, 2016
Milford company scales back IPO to $15M
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By Sam Bonacci
Spring Bank Pharmaceuticals, an early-stage biotech that develops targeted therapies for viral diseases, is going for a scaled back version of its initial public offering.
The Milford-based company plans to offer an initial 1.2 million shares priced between $12 and $14, according to IPO advising organization Renaissance Capital. This is a scaled back version of the IPO that Spring Bank was seeking in March and postponed. That initial IPO sought $40 million in funding with the intent of selling approximately 2.8 million shares.
Spring Bank Pharmaceuticals was founded in 2002 and will be listed on the Nasdaq under the symbol SBPH.
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