Greenwich LifeSciences, a Phase 3 biotech developing immunotherapies for breast cancer, lowered the proposed deal size for its upcoming IPO on Wednesday.
The Stafford, TX-based company now plans to raise $18 million by offering 2.9 million shares (57% insider) at a price range of $5.75 to $6.75. The company had previously filed to offer 2.7 million shares (63% insider) at a range of $7.50 to $8.50. At the midpoint of the revised range, Greenwich LifeSciences will raise -14% less in proceeds than previously anticipated.
Greenwich LifeSciences was founded in 2006 and plans to list on the Nasdaq under the symbol GLSI. Aegis Capital Corp. is the sole bookrunner on the deal.
