Carbylan Therapeutics Prices IPO Of 13 Mln Shares At $5 A Piece

(RTTNews) - Carbylan Therapeutics, Inc. said Wednesday that it has priced its initial public offering of 13 million shares of its common stock at a price to the public of $5.00 per share.

The shares will be listed on the Nasdaq Global Market and will trade under the ticker symbol "CBYL" beginning on April 9.

The company is offering all 13,000,000 shares of common stock. The company has also granted the underwriters a 30-day option to purchase up to an additional 1.95 million shares of common stock.

The company said Monday that it planned to offer 12 million shares in the IPO, and that it expected the IPO to be priced at $5.00 per share. Earlier in January, the company planned to offer 5.8 million shares in the IPO at a price of $12.00 to $14.00 each.

Leerink Partners LLC is acting as sole book-running manager and representative of the underwriters in the offering. JMP Securities LLC and Wedbush Securities Inc. are acting as co-managers.