GlobeImmune Prices IPO Below Range

(RTTNews) - Biopharmaceuticals company GlobeImmune Inc on Tuesday announced the pricing of its initial public offering of 1,500,000 shares of its common stock at a price to the public of $10.00 per share.

The company had initially filed to offer 2.2 million shares at a range of $15 to $17 but dropped the shares offered to 1.6 million in late May.

The gross proceeds to GlobeImmune from the initial public offering are expected to be $15,000,000, before underwriting discounts and commissions and other offering expenses.

In addition, GlobeImmune has granted the underwriter a 45-day option to purchase up to 225,000 additional shares of common stock from GlobeImmune to cover over-allotments, if any.

GlobeImmune's common stock has been approved for listing on the NASDAQ Capital Market and is expected to begin trading tomorrow under the symbol "GBIM."

The offering is expected to close on July 8.

Louisville-based GlobeImmune focuses on developing products for the treatment of infectious disease and oncology based on its proprietary Tarmogen platform.