Swiss biopharmaceutical company Urovant Sciences has filed a preliminary prospectus for its initial public offering (IPO) of 10 million shares of common stock.
Urovant Sciences intends to use the net proceeds from this offering primarily to fund the clinical development of vibegron and hMaxi-K, working capital, commercial readiness and general corporate purposes.
The company is expecting the initial public offering price to be between $14.00 and $16.00 per common share. The filling had proposed maximum aggregate offering price of $184 million.
Urovant Sciences has granted the underwriters an option for a period of 30 days to purchase up to 1,500,000 additional common shares.