MapLight Therapeutics Inc. is adopting a rarely-used tactic to allow it to go public later this month, even as the US government shutdown prompts other companies seeking initial public offerings to hold off.
The clinical-stage schizophrenia disease specialist forged ahead on Monday with the formal marketing of its $250.8 million IPO at a fixed offering price of $17 per share. Although the US Securities and Exchange Commission can’t declare IPO registrations effective while the government is closed, a language tweak in MapLight’s filings means the registration is set to become effective automatically in 20 days.
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