Sign up USA
Proactive Investors - Run By Investors For Investors

IPO Roundup: Vaccinex, Mesa Air and Pacific City Financial price IPOs at the low-end or below range

Clinical-stage biotech Vaccinex and Pacific City Financial priced its IPO at the low-end of guidance
IPO tiles
Regional airline Mesa Air priced fewer shares at a lower price than was expected

Vaccinex Inc (NASDAQ:VCNX) has priced its shares at US$12 each, at the low-end of its guidance between US$12 and US$15. The biotech issued 3.3 million shares, raising a total of US$39.6mln compared with a possible US$49.9mln at the top of its guidance. The clinical-stage biotech researches and develops biotherapeutics for neurogenerative diseases, cancers and autoimmune diseases, including Huntington’s diseases and non-small cell lung cancer.

Shares were down nearly 4% to US$10.97 by the closing bell Thursday.

READ: IPO Roundup: Clinical-stage biotech Vaccinex could raise nearly US$50mln in its IPO

Mesa Air Group Inc (NASDAQ:MESA) has priced fewer shares at a lower price than was expected. The regional airline issued 9.63 million shares at US$12, below its original guidance of 10.7 million shares priced between US$14 and US$16. The offering is expected to raise around US$115.6mln compared with a potential US$171.2mln at the top of its guidance. The Phoenix-based company operates flights on behalf of American Airlines Group Inc (NASDAQ:AAL) and United Continental Holdings Inc (NYSE:UAL).

The company is expected to begin trading on the Nasdaq Friday morning.

Pacific City Financial Corp (NASDAQ:PCB) has priced its 2.4 million shares at US$20 each, the low-end of its guidance of US$20 to US$22. The offering raised US$48 million compared with a possible US$52.4mln at the top of its guidance. The commercial bank offers financial services with a specific focus on Korean-American communities. The bank currently has 13 branches and 10 loan production offices.

The California-based company will also begin trading Friday morning.

View full VCNX profile View Profile

Vaccinex Inc Timeline

Related Articles

scientist with vial
September 25 2018
The AIM-listed drug developer is at the vanguard of advances in the emerging field of immuno-oncology
Zelda's Stewart Washer at Proactive's CEO Sessions
November 16 2017
Stewart Washer at Proactive's CEO Sessions this week.
June 04 2018
While tricky, the last year has seen Abzena increase its customer engagement with its integrated discovery, development and manufacturing service offering

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use