Xencor Closes IPO Of 14.6 Mln Shares - Quick Facts

(RTTNews) - Clinical-stage biopharmaceutical company Xencor Inc. (XNCR) Friday announced the closing of its initial public offering of about 14.64 million common shares at a price of $5.50 per share.

The offering includes the exercise in full by the underwriters of their option to purchase up to nearly 1.91 additional shares of common stock.

Xencor estimates net proceeds from the offering to be about $72.4 million, after deducting certain expenses.

Credit Suisse Securities (USA) LLC and Leerink Swann LLC are acting as joint book-running managers of the offering. Wedbush PacGrow Life Sciences is acting as a co-manager for the offering.

Xencor stock is trading at $8.25, up $0.70 or 9.27%, on a volume of 36 thousand shares on the Nasdaq.