GlobeImmune Raises $17.25 Mln In IPO, Stock Surges

(RTTNews) - Biopharmaceuticals company GlobeImmune, Inc. (GBIM) Tuesday said its initial public offering raised $17.25 million, before deducting underwriting discounts and commissions and other offering expenses. The stock surged to close higher by 12 percent.

The IPO comprised 1,725,000 shares of common stock at a price to the public of $10.00 per share. This included 225,000 shares of common stock sold pursuant to the full exercise of the underwriter's overallotment option.

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

Shares of GlobeImmune, Inc. trade on the NASDAQ Capital Market under the ticker symbol "GBIM."

Aegis Capital Corp. acted as sole book-running manager for the offering.

GBIM closed up 12 percent on Tuesday at $12.89.