Five Prime Therapeutics Prices IPO At $13/Share, Within The Range

(RTTNews) - Five Prime Therapeutics, a clinical-stage biotechnology company developing protein therapeutics, announced that it has priced initial public offering of 4.8 million shares of common stock at $13.00 per share for $62.4 million, before underwriting discounts, commissions and expenses. The company expects to close the offering on September 23, 2013.

In an amended regulatory filing with the U.S. Securities and Exchange Commission, the company had expected to price the initial public offering of 4.0 million common shares between $12.00 and $14.00 per share

Five Prime has granted the underwriters a 30-day option to buy up to 720,000 additional shares of common stock at the initial public offering price to cover over-allotments, if any.

The San Francisco, California-based company shares to begin trade on the NASDAQ Global Market under the symbol "FPRX" beginning on September 18, 2013.

Jefferies LLC, BMO Capital Markets and Wells Fargo Securities, LLC are acting as joint book-running managers and Guggenheim Securities, LLC is acting as a co-manager for the offering.