Impel NeuroPharma down after pricing $45 mln equity offering

IPI Legacy Liquidation Co

10/09/2021 11:25

** Impel NeuroPharma  IMPL.O  shares down ~15% premarket
after follow-on prices
    ** Co sells 3 mln shares at $15, raises $45 mln  urn:newsml:reuters.com:*:nGNX9Z5f3h
    ** IMPL shares on Thurs rose 27% to close at $21.13
    ** Cowen and Guggenheim jt bookrunners for offering, joined
by Wedbush PacGrow
    ** Last Fri, IMPL surged to as high as $34.75 after U.S. FDA
approved co's migraine treatment, Trudhesa  urn:newsml:reuters.com:*:nL4N2Q530C
    ** Impel went public in Apr, selling 5.3 mln shares in IPO
priced at $15
    ** Co has ~19.5 mln shares outstanding for ~$412 mln market
cap, per Refinitiv data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))