Auris Medical shares will be traded at NASDAQ as of today06.08.2014 08:17
Auris Medical Holding AG announced today the pricing of its initial public offering of 9,400,000 of its common shares. The net proceeds of the initial public offering are expected to be approximately USD 51 million.
Auris Medical Holding AG announced today the pricing of its initial public offering of 9,400,000 of its common shares at an initial public offering price of USD 6.00 per common share. In addition, Auris Medical has granted the underwriters an option to purchase up to 1,410,000 additional common shares at the public offering price, less underwriting discounts. After deducting the underwriting discounts and other estimated offering expenses, the net proceeds of the initial public offering are expected to be approximately USD 51 million. The offering is expected to close on or about August 11, 2014, subject to customary closing conditions.
Auris Medical's common shares have been approved for listing on the NASDAQ Global Market and are expected to begin trading under the ticker symbol "EARS" on August 6, 2014. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (“SEC”) on August 5, 2014.
About Auris Medical
Auris Medical is a Swiss biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in otolaryngology. The Company is currently focusing on the development of treatments for acute inner ear tinnitus (AM-101) and for acute inner ear hearing loss (AM-111) by way of intratympanic injection with biocompatible gel formulations. In addition, Auris Medical is pursuing earlystage research and development projects. The Company was founded in 2003 and is headquartered in Zug, Switzerland.