Oasmia Pharmaceutical, which is developing formulations of widely-used cancer drugs for humans and dogs, lowered the proposed deal size for its upcoming IPO on Monday.
The Uppsala, Sweden-based company decreased the proposed maximum aggregate offering from $23 million to $15 million. At this new maximum, Oasmia Pharmaceutical will raise -35% less in proceeds than previously anticipated.
In its filings, the company has provided a proposed range but has yet to disclose the number of shares it plans to offer.
Oasmia Pharmaceutical, which was founded in 1999, plans to list on the Nasdaq under the symbol OASM. Rodman & Renshaw and Joseph Gunnar & Co. are the joint bookrunners on the deal. It is expected to price during the week of October 19, 2015.
