Dipexium Prices IPO Of 2.75 Mln Shares At $12.00 A Share

(RTTNews) - Biopharmaceutical company Dipexium Pharmaceuticals, Inc. (DPRX) said it is pricing its initial public offering of about 2.75 million shares at $12.00 per share, with all shares being offered by the company.

Further, Dipexium said it has granted the underwriters a 30-day option to purchase up to an additional 412,500 shares of common stock at the same price to cover over-allotments, if any.

The shares would begin trading on the Nasdaq Capital Market on March 13, 2014, under the symbol "DPRX." The offering is expected to close on March 18, subject to customary closing conditions.

Dipexium was formerly known as Dipexium Pharmaceuticals, LLC until March 12, 2014, when it implemented a conversion from a limited liability company to a corporation in connection with its initial public offering.