Vital Therapies, which is developing bio-artificial liver cells for treatment of acute liver failure, raised $54 million by offering 4.5 million shares at $12, below the downwardly revised range of $13 to $15. The company had originally filed to offer 4.4 million shares at a range of $16 to $18 but postponed in November 2013. Vital Therapies plans to list on the NASDAQ under the symbol VTL. BofA Merrill Lynch and Credit Suisse acted as lead managers on the deal.
