SAN RAMON, Calif., March 25, 2015 (GLOBE NEWSWIRE) -- SteadyMed Ltd., a specialty pharmaceutical company, today announced the closing of its initial public offering of 4,700,000 ordinary shares at a price to the public of $8.50 per share, resulting in gross proceeds of approximately $40.0 million before underwriting discounts and commissions. All of the ordinary shares were offered by SteadyMed. The ordinary shares began trading on The NASDAQ Global Market under the ticker symbol "STDY" on March 20, 2015.
Wells Fargo Securities, LLC and RBC Capital Markets, LLC acted as joint book‐running managers for the offering. JMP Securities LLC acted as lead manager. The offering was made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or by telephone at (800) 326‐5897, or by email at cmclientsupport@wellsfargo.com; or from RBC Capital Markets, Attn: Prospectus Department, 200 Vesey Street 8th Floor, New York, NY 10281, or by telephone at (877) 822-4089 or by emailing equityprospectus@rbccm.com.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 19, 2015. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About SteadyMed
SteadyMed Ltd. is a specialty pharmaceutical company focused on the development of drug products to treat orphan and high value diseases with unmet parenteral delivery needs. The company's lead candidate is Trevyent, a development stage drug product that utilizes SteadyMed's PatchPump technology to administer treprostinil, a vasodilatory prostacyclin analogue to treat pulmonary arterial hypertension. PatchPump is a proprietary, disposable, parenteral drug administration platform that is prefilled and preprogrammed at the site of manufacture. SteadyMed has offices in San Ramon, California and Rehovot, Israel.