Aspen Neuroscience Prices IPO at $15 a Share in 9.375 Million-Share Offering

Aspen Neuroscience priced its initial public offering at $15 per share, setting terms for 9,375,000 shares and expected gross proceeds of about $140.6 million.

The gross proceeds estimate is before underwriting discounts, commissions and other offering expenses, so it does not represent the amount the company will retain after costs.

Underwriters have 30 days to purchase up to 1,406,250 additional shares at the $15 IPO price, less underwriting discounts and commissions. If they exercise the option in full, the total offering would include 10,781,250 shares, counting the base offering and the additional shares.