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Sol-Gel Technologies Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Feb. 05, 2018 04:33PM PST
Longevity InvestingSol-Gel Technologies (NASDAQ:SLGL), a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases, today announced the closing of its initial public offering of 7,187,500 ordinary shares at a public offering price of $12.00 per ordinary share, which includes the exercise in full by …
Sol-Gel Technologies (NASDAQ:SLGL), a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases, today announced the closing of its initial public offering of 7,187,500 ordinary shares at a public offering price of $12.00 per ordinary share, which includes the exercise in full by the underwriters of their option to purchase up to 937,500 additional shares.
As quoted in the press release:
The aggregate gross proceeds to Sol-Gel from the offering were approximately $86.3 million, before deducting underwriting discounts and commissions and estimated offering expenses. All of the ordinary shares in the offering were offered by Sol-Gel. The ordinary shares commenced trading on The Nasdaq Global Market on February 1, 2018 under the ticker symbol “SLGL.”