PREDIX Pharmaceuticals (PRDX)

[midastouch017]

Predix IPO postponed

Predix was expected to raise $55 million on Nasdaq at a company value of $232 million.

Tali Tsipori 20 Oct 05 15:15

Israeli biotechnology company Predix Pharmaceuticals Holdings, which was scheduled to complete the pricing stage for its Nasdaq IPO last night, has apparently been forced to postpone it by one day. Predix was expected to raise $55 million at a company value of $211-253 million (average company value - $232 million). Trading in the company share will therefore begin tomorrow under the PRDX ticker symbol.
Predix will issue five million shares in the $10-12 price range. The underwriters -- UBS Investment Bank, Deutsche Bank Securities, ThinkEquity Partners LLC, and CIBC World Markets Corp. -- will receive an option to buy 750,000 more shares from the company, which would increase the proceeds by $8.3 million.

Predix focuses on the discovery and development of new drugs for treating diseases linked to G-Protein coupled receptors.

Published by Globes [online] - www.globes.co.il - on October 20, 2005

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