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06/20/2019 | Press release | Distributed by Public on 06/20/2019 02:19

Prevail Therapeutics Prices 7.35M Share IPO @$17/Share

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Prevail Therapeutics Prices 7.35M Share IPO @$17/Share

Charles Gross 6/20/2019 2:46:56 AM

Prevail Therapeutics Inc. (NASDAQ: PRVL) (Prevail), a biotechnology company developing potentially disease-modifying AAV-based gene therapies for patients with neurodegenerative disorders, today announced the pricing of its initial public offering of 7,353,000 shares of its common stock at a price to the public of $17.00 per share. In addition, Prevail has granted the underwriters a 30-day option to purchase up to an additional 1,102,950 shares of its common stock at the initial public offering price less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Market on June 20, 2019 under the symbol 'PRVL.' The offering is expected to close on June 24, 2019, subject to customary closing conditions.

Morgan Stanley, BofA Merrill Lynch and Cowen are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager.