Aerpio Pharmaceuticals announced that its common stock will begin trading on the Nasdaq Capital Market under the symbol “ARPO” at the opening of trading on June 26, 2018, following its previously announced approval to list its common stock on the Nasdaq Capital Market.
Aerpio also announced the pricing of the previously announced underwritten public offering of 11,688,000 shares of its common stock at a price to the public of $3.85 per share. Aerpio has also granted the underwriters a 30-day option to purchase up to an additional 1,753,200 shares of common stock to cover overallotments, if any. The offering is expected to close on or about June 28, 2018, subject to customary closing conditions.
Guggenheim Securities is acting as book-running manager for the offering. Needham & Company is acting as lead manager, and National Securities Corporation and H.C. Wainwright & Co. are acting as co-managers for the offering.
Aerpio expects to receive net proceeds of approximately $41.8 million from the sale of common stock in the offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by it. Aerpio intends to use the net proceeds from the offering for working capital and general corporate and administrative purposes.