Motif Bio, a late-stage biotech developing antibiotics for multi-drug resistant bacteria, raised $17 million by offering 2.4 million ADSs at $6.98, or $25 million including a European placement. Motif, which is listed on London's AIM market (MTFB), originally filed in July to raise $35 million, when its converted shares traded at $12.42. Its shares on the AIM closed Thursday night at £0.30, or £6.00 ($7.49) per ADS; its US listing represents a 7% discount to the prior night's close. The company also added warrants prior to completing the US IPO. Motif Bio plans to list on the Nasdaq under the symbol MTFB. H.C. Wainwright acted as a lead manager on the deal.
