ProNAi Therapeutics, which is developing cancer therapies based on DNA interference, raised the proposed deal size for its upcoming IPO on Wednesday.
The Vancouver, Canada-based company now plans to raise $138 million by offering 8.1 million shares at a price of $17. The company had previously filed to offer 6.7 million shares at a range of $14 to $16. At the revised price, ProNAi Therapeutics will raise 37% greater proceeds than previously anticipated.
ProNAi Therapeutics, which was founded in 2003, plans to list on the NASDAQ under the symbol DNAI. Jefferies and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price this week.
