ARTICLE | Financial News
Cerecor raises $26M in IPO
October 16, 2015 2:24 AM UTC
Cerecor Inc. (NASDAQ:CERCU) lost $0.10 to $6.40 in its first day of trading Thursday after it raised $26 million through the sale of 4 million units at $6.50 in an IPO underwritten by Maxim Group and Laidlaw. Each unit consisted of a share of common stock, a Class A warrant to purchase an additional share and a Class B warrant to purchase one-half of an additional share.
The company filed in June to raise $31.6 million. Earlier this month, Cerecor said it hoped to sell 4.2 million units at $6-$7. At $6.50, it would have raised $27.5 million. ...