WCI, largest of Thursday's IPOs, raises $102M
Luxury home developer WCI raises $102M from IPO; Onconova Therapeutics jumps in midday trading
NEW YORK (AP) -- Luxury home builder WCI Communities Inc. said Thursday its initial public offering raised about $102 million, making it the largest IPO of the day.
— WCI sold 6.8 million shares for $15 per share, bringing in $102.3 million in net proceeds. The company, which develops luxury residential communities and homes in coastal Florida, expects $91.4 million in net proceeds.
WCI originally planned a bigger offering at a higher price of $21 to $23 per share. Its shares picked up a penny to $15.01 in midday trading.
Three drug companies also went public Thursday, but Onconova Therapeutics Inc. was the only one that saw its shares move higher.
— Onconova's IPO priced at $77.5 million, as the expanded offering of 5.2 million shares priced at $15 a share, above its original expectations. The biotech drug developer's shares surged $7.53, or 50.2 percent, to $22.53.
— Cellular Dynamics International Inc. raised $46.2 million before expenses, selling 3.8 million shares at $12 per share. Its stock dropped $1.45, or 12.1 percent, to $10.55.
— Conatus Pharmaceuticals Inc. raised $66 million thought its IPO, as the company sold 6 million shares for $11 each. That was at the midpoint of expectations, but Conatus had increased its offering to 6 million shares from 5 million. Its stock fell 73 cents, or 6.6 percent, to $10.27.
