The Oncobiologics Inc. (NASDAQ: ONSIU) initial public offering suffered a devastating first day. Shares ended down 20% to $4.80.
The equity being offered was not via traditional common shares:
Oncobiologics, Inc. (NASDAQ: ONSIU), a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics, today announced the pricing of its initial public offering of 5,833,334 units at a price to the public of $6.00 per unit. Each unit consists of one share of common stock, one-half of a Series A warrant and one-half of a Series B warrant. Each whole Series A warrant entitles the holder to purchase one share of Oncobiologics’ common stock at an initial exercise price of $6.60, subject to adjustment. Each whole Series B warrant entitles the holder to purchase one share of Oncobiologics’ common stock at an initial exercise price of $8.50, subject to adjustment. Oncobiologics, Inc. also has granted the underwriters a 30-day option to purchase up to an additional 875,000 units at the initial public offering price per unit to cover over-allotments, if any.
The company lost $48 million last year and $13 million in 2014.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
