NephroGenex Prices IPO At Low End Of Range

(RTTNews) - NephroGenex, Inc. said Monday that it has priced its initial public offering of 3.1 million shares of its common stock at an initial public offering price of $12.00 per share, which is the low end of the previously estimated range of $12.00 to $14.00 per share.

The gross proceeds to NephroGenex is expected to be $37.2 million before underwriting discounts and commissions and other offering expenses. All of the common stock is being offered by NephroGenex. In addition, NephroGenex has granted the underwriters a 45-day option to purchase up to an additional 465,000 shares of common stock from NephroGenex to cover over-allotments, if any.

NephroGenex's common stock has been approved for listing on the NASDAQ Capital Market and is expected to begin trading under the ticker symbol "NRX" on February 11.

The offering is expected to close on February 14.

Aegis Capital Corp. is acting as sole book-running manager for the offering.