Tiziana Life Sciences, which is developing antibody therapies to combat NASH, Crohn's disease, MS, and cancer, raised $4.4 million by offering 442,910 shares at $9.90. The offer price is roughly equal to the as-converted price of Tiziana's common shares listed on London's AIM (AIM: TILS). Because the company's Nasdaq IPO raised less than $5.0 million, Renaissance Capital is excluding the deal from its 2018 IPO stats.
In addition to the $4.4 million raised in the US IPO, Tiziana disclosed that it had raised $1.5 million in an equity offering in late October, raised $1.4 million by issuing shares from an exercised warrant, and issued new shares to extinguish $1.8 million in debt.
Tiziana Life Sciences plans to list on the Nasdaq under the symbol TLSA. Laidlaw & Company (UK) acted as a lead manager on the deal.
