Vital Therapies Inc. lowered the proposed size of its planned initial public offering, according to Renaissance Capital. Vital Therapies now plans to sell 4.5 million shares at $13 to $15 per share, expecting to raise about $63 million.
The company had previously filed to offer 4.4 million shares at $16 to $18 but postponed its deal in November 2013.
BofA Merrill Lynch and Credit Suisse are the joint bookrunners on the deal, which is expected to price during the week of April 14, according to Renaissance. It plans to trade on the Nasdaq under ticker symbol “VTL.”
Vital Therapeutics is a biotherapeutic company focused on developing a cell-based therapy targeting the treatment of acute liver failure, according to the company.