Alcobra, an Israeli drug company developing a non-stimulant ADHD treatment, raised the proposed deal size for its upcoming IPO on Wednesday. The Tel Aviv, Israel-based company now plans to raise $25 million by offering 2.3 million shares at a price range of $10 to $12. The company had previously filed to offer 1.4 million shares at the same range. At the midpoint of the revised terms, Alcobra will raise 67% greater proceeds than previously anticipated.
Alcobra, which was founded in 2008 and is yet to generate any revenue, plans to list on the NASDAQ under the symbol ADHD. Aegis Capital is the sole bookrunner on the deal.
