Medical Device, Biotech Cos. Price IPOs Raising $30M Total
By Tom Zanki (February 14, 2018, 4:19 PM EST) -- Israeli medical device company Motus GI Holdings Inc. and German biotechnology firm BioFrontera Inc. raised a combined $30 million from U.S. initial public offerings and saw shares begin trading Wednesday, representing the only two operating companies set to price in a quiet week for IPOs.
Motus GI sold 3.5 million shares priced at $5 each, representing the bottom of its projected range of $5 to $7, raising $18 million in a downsized offering. The company, advised by Lowenstein Sandler LLP, previously planned to sell 4.25 million shares.
BioFrontera also sold 1.2 million American depositary shares at $9.88 each, raising $12 million....
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