Israeli pain relief biotech PainReform Revised Terms for a $23 million US IPO
PainReform Ltd, an Israeli biotechnology company that develops therapies for postoperative pain relief, has filed Amendment No3 to Form F-1 Registration Statement on August 24, 2020 with the U.S Securities and Exchange Commission to announce revised terms for its IPO.
The company 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. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $82 million.
The Herzliya, Israel-based company was founded in 2007 and booked $35 million in sales for the 12 months ended December 31, 2019.
The company plans to list on the Nasdaq Capital Market under the symbol “PRFX.” Maxim Group LLC and Joseph Gunnar are underwriters of the IPO.
The company engages Carter Ledyard& Milburn LLP as US Securities Counsel and Brightman Almagor Zohar & Co. as Independent Auditor.
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