PainReform, a Phase 2 Israeli biotech developing therapies for post-operative pain relief, revised the terms for its upcoming IPO on Monday.
The Herzliya, Israel-based company now plans to raise $23 million by offering 2.6 million units at a price range of $8 to $10. Each unit consists of one share of common stock and one warrant, exercisable at $9.90. The company had previously filed to offer 2.6 million shares of common stock at the same range. Because the company is now offering units with warrants attached, PainReform no longer qualifies for tracking and will be excluded from Renaissance Capital's stats.
PainReform was founded in 2007 and plans to list on the Nasdaq under the symbol PRFX. Maxim Group LLC and Joseph Gunnar are the joint bookrunners on the deal.
