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Sol-Gel Technologies prices $75M IPO

Sol-Gel Technologies Ltd. plans to sell 6,250,000 ordinary shares at $12.00 apiece for proceeds of $75.0 million in an IPO.

The clinical-stage dermatology company is focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases.

Sol-Gel has also granted the underwriters an option to buy up to an additional 937,500 shares.

The closing of the IPO is expected to occur on or around Feb. 5.

Sol-Gel's ordinary shares have been approved for listing on the Nasdaq Global Market and are expected to begin trading under the symbol SLGL on Feb. 1.

Jefferies LLC and BMO Capital Markets Corp. are acting as joint book-running managers and JMP Securities LLC and Raymond James & Associates Inc. are acting as co-managers for the IPO.