Fundraisings and IPOs

Date: 2015-07-28

Type of information: IPO

Company: Pieris (Germany)


Amount: $28.3 million

Funding type: IPO

Planned used:

Pieris intends to use the net proceeds from the offering to fund research and development, including preclinical and clinical research and development of its drug candidates, working capital and general corporate purposes.



* On July 28, 2015, Pieris Pharmaceuticals, a biotechnology company advancing its proprietary Anticalin® biotherapeutic technologies, announced that it closed the sale of an additional 1,211,827 shares of its common stock at the public offering price of $2.75 per share pursuant to the over-allotment option exercised by the underwriters of its recently completed public offering. Including proceeds from the exercise of the over-allotment option, total gross proceeds to Pieris from the offering were $28.3 million before deducting the underwriting discounts, commissions and estimated expenses. Oppenheimer & Co. and JMP Securities acted as joint book-running managers for the offering. Roth Capital Partners and Trout Capital acted as co-managers for the offering.

* On July 7, 2015, Pieris Pharmaceuticals announced the closing of a public offering of 9,090,909 shares of its common stock at a public offering price of $2.75 per share. Gross proceeds raised by Pieris in the offering were $25.0 million and net proceeds are expected to be approximately $22.7 million.

* On June 30, 2015, Pieris Pharmaceuticals announced the pricing of a public offering of 9,090,909 shares of its common stock at a public offering price of $2.75 per share. All shares of common stock are being offered by the company. In addition, Pieris has granted the underwriters a 30-day option to purchase up to an additional 1,363,636 shares of common stock at the same price to cover any over-allotments. The net proceeds to Pieris from this offering are expected to be approximately $22.7M, after deducting underwriting discounts and commissions and other estimated offering expenses. The shares are expected to begin trading on the NASDAQ Capital Market today, June 30, 2015, under the symbol \"PIRS.\" The offering is expected to close on July 6, 2015, subject to customary closing conditions.

Therapeutic area:

Is general: Yes