Eliem Therapeutics Inc, a neuronal excitability disorders therapies developer, has filed Amendment No 4 to Form S-1 Registration Statement on August 29, 2021 with the U.S. Securities and Exchange Commission to decrease the proposed IPO size to $75 million, previously filed to raise $81 million.
The company now plans to raise $75 million by offering 6 million shares at the price of $12.50. The company previously planned to raise $81 million by offering 4.5 million shares at a price range of $17 to $19. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $431 million.
The company focused on developing novel therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy and other disorders of the peripheral and central nervous systems.
The Redmond, Washington-based company was founded in 2018 and plans to list on the Nasdaq Global Market under the symbol “ELYM.” SVB Leerink, Evercore ISI, Stifel, and Guggenheim Securities are underwriters of the IPO.
The company engages Cooley LLP as US Securities Counsel, and PricewaterhouseCoopers LLP as Independent Auditor.
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