Relypsa, Inc. Announces Pricing of Initial Public Offering
REDWOOD CITY, Calif., Nov. 14, 2013 (GLOBE NEWSWIRE) -- Relypsa, Inc. (Nasdaq:RLYP), a clinical-stage biopharmaceutical company, today announced the pricing of its initial public offering of 6,850,000 shares of its common stock at a price to the public of $11.00 per share. The shares are expected to begin trading on The NASDAQ Global Select Market on November 15, 2013 under the ticker symbol "RLYP." All of the shares of common stock are being offered by Relypsa. In addition, Relypsa has granted the underwriters a 30-day option to purchase up to an additional 1,027,500 shares of common stock to cover over-allotments, if any. Relypsa estimates net proceeds from the offering to be approximately $67.4 million (assuming no exercise of the underwriters' over-allotment option), after deducting underwriting discounts and commissions and estimated offering expenses.
Relypsa expects to close its initial public offering on or about November 20, 2013, subject to satisfaction of customary closing conditions. Morgan Stanley & Co. LLC, BofA Merrill Lynch and Cowen and Company are acting as joint book-running managers for the offering. Stifel and Wedbush PacGrow Life Sciences are acting as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 14, 2013. Copies of the registration statement, as amended, can be accessed through the SEC's website at www.sec.gov.
This offering is being made solely by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by calling 866-718-1649, or by e-mailing email@example.com; or BofA Merrill Lynch, 222 Broadway, New York, NY, 10038 Attention Prospectus Department, by email at dg.Prospectus_Requests@baml.com; or Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone: 631-274-2806, Fax: 631-254-7140).
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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Relypsa, Inc.
Relypsa, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. The Company's two-part pivotal Phase 3 trial of its lead product candidate, patiromer, for the treatment of hyperkalemia, a life-threatening condition defined as abnormally elevated levels of potassium in the blood, has been completed and the primary and secondary endpoints were met. Relypsa has global royalty-free commercialization rights to patiromer, which has intellectual property protection in the U.S. until at least 2030.
Shari Annes, IR and Corporate Communications