Hancock Jaffe Laboratories Inc. priced its IPO of 1.5 million units at $5 apiece.
Each unit consists of 1 common share and a warrant to buy 1 common share.
Hancock Jaffe granted the underwriter an option to buy an additional 225,000 units.
The company's common shares and warrants have been approved for listing on the Nasdaq Capital Market and are expected to begin trading under the ticker symbols HJLI and HJLIW, respectively, on May 31.
The offering is expected to close June 4.
Network 1 Financial Securities Inc. is acting as sole book-running manager for the offering.
