Novan announces pricing of initial public offering

Novan announced in a press release the pricing of the company’s initial public offering of 4.1 million shares of common stock, with a public price of $11 per share.

The common stock was approved for listing on the NASDAQ global market and was expected to starting trading on Sept. 21 under the ticker symbol “NOVN,” according to the late-stage pharmaceutical company that focuses on dermatology.

Novan is offering all the common stock and has granted underwriters a 30-day option to purchase an additional 615,000 shares of common stock at the IPO price, after an underwriting discount, according to the release.

Subject to customary closing conditions, the offering is expected to close Sept. 26, Novan reported.

Reference: www.novan.com