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Osmotica Pharmaceuticals seeks to raise $46.6M through IPO

Osmotica Pharmaceuticals plc is selling 6,650,000 ordinary shares at $7 each in its IPO.

The Bridgewater, N.J.-based biopharmaceutical company is seeking to raise about $46.6 million through the offering.

Underwriters have a 30-day option to buy up to 997,500 additional ordinary shares at the IPO price.

Osmotica's stock is scheduled to start trading Oct. 18 on the Nasdaq Global Select Market under the symbol OSMT.

Jefferies, Barclays, RBC Capital Markets and Wells Fargo Securities acted as joint lead book-running managers for the IPO.

Meanwhile, Osmotica also launched a private placement of 2,014,285 ordinary shares, priced at $7 each, to certain existing stockholders.

Osmotica develops and commercializes products that target markets for specialty neurology and women's health. It has two candidates in late-stage development: arbaclofen extended‑release tablets for muscle spasticity in multiple sclerosis patients and RVL‑1201 for the treatment of blepharoptosis, or droopy eyelid.