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Iterum Therapeutics closes IPO

Iterum Therapeutics PLC closed its IPO of 6,150,000 ordinary shares at $13 per share.

All of the shares were offered by Iterum and are listed for trading on the Nasdaq Global Market under the symbol ITRM.

Underwriters have an overallotment option to buy up to an additional 922,500 ordinary shares.

Following the completion of the offering, health and life sciences specialist investor Arix Bioscience PLC, which has invested $4.4 million in Iterum's IPO, holds 1,031,903 ordinary shares of Iterum, representing a stake of about 7.4% in the company's issued and outstanding shares.

Leerink Partners and RBC Capital Markets acted as joint book-running managers for the offering, with Guggenheim Securities as lead manager and Needham & Co. as co-manager.