Dyax
This article was originally published in The Gray Sheet
Executive Summary
Biopharmaceutical company prices initial public offering of 4 mil. shares at $15 each on Aug. 15. Cambridge, Massachusetts-based Dyax' phage display technology is being used to "identify a broad range of compounds with potential for the treatment and diagnosis of disease," the firm states. Proceeds from the IPO are tabbed for R&D, possible acquisitions and working capital. The issue trades on the Nasdaq exchange under the symbol "DYAX." J.P. Morgan, Lehman Brothers and Pacific Growth Equities managed the offering
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Dyax
Exercise of a 600,000-share underwriter overallotment option increases initial public offering gross proceeds to $69 mil. All together, the biopharmaceutical company's IPO consisted of 4.6 mil. shares at $15 each (1"The Gray Sheet" Aug. 21, 2000, p. 11). J.P. Morgan & Co. was lead manager for the offering, with Lehman Brothers and Pacific Growth Equities acting as co-managers
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