SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Tricida, Inc., a pharmaceutical company focused on the development and commercialization of TRC101, a non-absorbed, orally-dosed polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease, today announced the pricing of its initial public offering of 11,700,000 shares of its common stock at a public offering price of $19.00 per share for total gross proceeds of approximately $222.3 million, before deducting underwriting discounts and commissions and other offering expenses payable by Tricida. Tricida has granted to the underwriters a 30-day option to purchase up to 1,755,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Select Market on June 28, 2018 under the symbol “TCDA.” The offering is expected to close on July 2, 2018, subject to customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing email@example.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, or by emailing firstname.lastname@example.org; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 631-274-2806, or facsimile: 631-254-7140.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and has been declared effective under the Securities Act of 1933, as amended. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such 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 such state or jurisdiction.
Tricida, Inc., is a pharmaceutical company focused on the development and commercialization of TRC101, a non-absorbed, orally-dosed polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease.
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. When used in this press release, the words “expect,” “approximately” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events and that do not relate solely to historical matters are intended to identify forward-looking statements. The forward-looking statements contained in this press release reflect Tricida’s current views with respect to future events, and Tricida does not undertake and specifically disclaims any obligation to update any forward-looking statements.