Innocoll Prices IPO Of 6.50 Mln ADSs At $9/ADS - Quick Facts

(RTTNews) - Innocoll AG (INNL), a commercial-stage, specialty pharmaceutical company that develops and manufactures a range of pharmaceutical products and medical devices using its proprietary collagen-based technologies, has priced its public offering of 6.5 million American Depositary Shares or ADS, each representing 1/13.25 ordinary shares, at $9.00 per ADS. The firm's ADSs may commence trading on July 25, 2014 on the NASDAQ Global Market under the ticker symbol "INNL." The offering may close on July 30, 2014.

The underwriters were granted a 30-day option to buy up to an additional 975,000 ADSs at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The firm plans to receive total estimated net proceeds from this offering of about $51.5 million after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by the company. Also, it plans to use the net proceeds for developing XaraColl, Cogenzia and CollaGUARD, expanding its manufacturing infrastructure, and for general corporate purposes.

Piper Jaffray & Co. and Stifel are acting as joint book-running managers for the offering. JMP Securities is acting as lead manager for the offering.