Conshohocken-based Medicus Pharma, which is working on a new way to treat skin cancer, is moving closer to completing an initial public offering, writes John George for the Philadelphia Business Journal.
The company is domiciled in Toronto and is already traded on the TVSX Stock Exchange in Canada. Its management team is in Montgomery County.
Medicus stated in a new filing with the Securities and Exchange Commission that its IPO plans in the United States include selling 880,000 shares of common stock at $4.55 per share, which was the company’s closing price on October 30. This would total $4.6 million in proceeds.
According to the October 31 filing, the actual price will be determined “based on the book-building process.” The company expects it will be close to the $4.55 per share figure.
Medicus is yet to announce a date for its U.S. IPO.
The total proceeds from the IPO could increase by an additional $600,000 if the underwriters exercise in full their option to buy an additional 132,000 shares at an assumed $4.55 price to cover over-allotments.
Medicus will trade under the ticker symbol “MDCX” on NASDAQ.
Read more about Medicus Pharma and their IPO in the Philadelphia Business Journal.
