Financings in Brief: Diacrin
This article was originally published in The Gray Sheet
Executive Summary
Diacrin: Initial public offering of 2.5 mil. units at $8 per unit commences Feb. 13, the Charlestown, Massachusetts transplantable porcine cells developer announces. Each unit consists of one share of common stock and one warrant to purchase one share. At $8 per unit, the offering is priced below the $14 to $16 range projected by the company in its December SEC filing ("The Gray Sheet" Jan. 1, p. 24). The $20 mil. IPO is underwritten by PaineWebber and Vector Securities, which hold an option to purchase an additional 375,000 units to cover any over-allotments...