PTC Therapeutics Prices Initial Public Offering
SOUTH PLAINFIELD, N.J., June 20, 2013 /PRNewswire/ -- PTC Therapeutics, Inc. (PTC) today announced the pricing of its initial public offering of 8,372,000 shares of common stock at a public offering price of $15.00 per share, before underwriting discounts. All of the shares in the offering are being sold by PTC. In addition, the underwriters have an option for a period of 30 days to purchase up to 1,255,800 additional shares of common stock from PTC at the public offering price, less the underwriting discount. PTC's common stock has been approved for listing on the NASDAQ Global Select Market and is expected to begin trading under the ticker symbol "PTCT" on June 20, 2013.
J.P. Morgan and Credit Suisse are acting as joint book-running managers for the offering. Cowen and Company is acting as co-lead manager and Wedbush PacGrow Life Sciences as co-manager.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 19, 2013.
The offering is being made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone: 866-803-9204; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010; telephone: 800-221-1037; email: email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
ABOUT PTC THERAPEUTICS, INC.
PTC is a biopharmaceutical company focused on the discovery and development of orally administered small-molecule drugs that target post-transcriptional control processes. Post-transcriptional control processes regulate the rate and timing of protein production and are of central importance to proper cellular function. PTC's internally discovered pipeline addresses multiple therapeutic areas, including rare genetic disorders and infectious diseases.
SOURCE PTC Therapeutics, Inc.