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Re: Historical development: IPOTHIS WAS AN IPO IN 2005 @ $11-13 a a share; Positive news forces delay in Accentia IPO Tampa Bay Business Journal by Margie Manning, Staff Writer Date: Monday, July 11, 2005, 12:00am EDT - Last Modified: Thursday, July 7, 2005, 3:42pm EDT TAMPA -- An initial public offering by Accentia Biopharmaceuticals Inc. is likely to hit the market in mid-July. Accentia expects to price its shares the week of July 11 or July 18 and begin public trading the following day, said Alan Pearce, CFO. In previous filings with the Securities and Exchange Commission, the company said it plans to sell 6.3 million shares at a price ranging from $11 to $13 a share. It would raise $75.6 million at the mid-point of $12 a share. Accentia had planned to price shares June 30 but delayed the move after getting positive news from the Food and Drug Administration about two products, Pearce said. Another prospectus possible While not required to disclose the information, the company is considering reprinting its prospectus to update potential investors. Accentia develops treatments for respiratory conditions, pain management and cancer. The company, which recently relocated its headquarters to 324 South Hyde Park Ave. from Cypress Center Drive, posted a net loss of $18.7 million on sales of $12.1 million for the six months ended March 31. Nationally, six biotech companies went public in the first quarter of 2005, raising $289 million, according to Burrill & Co., a San Francisco-based life sciences merchant bank. For those six, IPOs tended to close at the lower end of each company's initial share price range, and to get deals done companies had to dramatically discount their offerings to attract investors, said G. Steven Burrill, CEO, in an April 1 report. Information for the second quarter was not yet available. mmmanning@bizjournals.com | 813.342.2473 |
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Msg # | Subject | Author | Recs | Date Posted |
57 | Re: Historical development; BVTI relations | mlkrborn | 0 | 8/14/2012 11:12:17 AM |