Regado Biosciences, which is developing break-through anticoagulant system for cardiovascular surgeries, lowered the proposed deal size for its upcoming IPO on Monday. The Basking Ridge, NJ-based company now plans to raise $42 million by offering 8.4 million shares at $5 per share. The company had previously filed to offer 5.0 million shares at a range of $14 to $16. At the midpoint of the revised range, Regado Biosciences would raise 44% fewer proceeds than previously anticipated.
Regado Biosciences, which was founded in 2001, plans to list on the NASDAQ under the symbol RGDO. The company initially filed confidentially on March 1, 2013. Cowen & Company and BMO Capital Markets are the joint bookrunners on the deal.
