NEW YORK (GenomeWeb News) — Rosetta Genomics began trading on the New York Stock Exchange today at $7 per share with a total of 3.75 million shares.
The company’s bid price opened today at $7.02 and by mid-afternoon had climbed almost 7 percent to $7.50.
The Israeli company, which will trade on the Nasdaq Global Market under the symbol "ROSG," stated that set price in a release this morning before the opening bell.
It also said underwriters would have a 30-day option to buy as many as 562,500 shares to cover over-allotments.
When Rosetta filed with its initial public offering with the US Securities and Exchange Commission in September 2006, the company said it expected to sell 3 million shares priced between $11 and $13, which would have generated just under $45 million.
Last month, Rosetta lowered that price to between $7.50 and $8.50 in an amended filing, which would raise a total of around $30 million through the IPO and the over-allotment.