IPO Roundup: Vaccinex, Mesa Air and Pacific City Financial price IPOs at the low-end or below range

Vaccinex Inc (NASDAQ:VCNX) has priced its shares at US$12 each, at the low-end of its guidance between US$12 and US$15. The biotech issued 3.3 million shares, raising a total of US$39.6mln compared with a possible US$49.9mln at the top of its guidance. The clinical-stage biotech researches and develops biotherapeutics for neurogenerative diseases, cancers and autoimmune diseases, including Huntington’s diseases and non-small cell lung cancer.

Shares were down nearly 4% to US$10.97 by the closing bell Thursday.

READ: IPO Roundup: Clinical-stage biotech Vaccinex could raise nearly US$50mln in its IPO

Mesa Air Group Inc (NASDAQ:MESA) has priced fewer shares at a lower price than was expected. The regional airline issued 9.63 million shares at US$12, below its original guidance of 10.7 million shares priced between US$14 and US$16. The offering is expected to raise around US$115.6mln compared with a potential US$171.2mln at the top of its guidance. The Phoenix-based company operates flights on behalf of American Airlines Group Inc (NASDAQ:AAL) and United Continental Holdings Inc (NYSE:UAL).

The company is expected to begin trading on the Nasdaq Friday morning.

Pacific City Financial Corp (NASDAQ:PCB) has priced its 2.4 million shares at US$20 each, the low-end of its guidance of US$20 to US$22. The offering raised US$48 million compared with a possible US$52.4mln at the top of its guidance. The commercial bank offers financial services with a specific focus on Korean-American communities. The bank currently has 13 branches and 10 loan production offices.

The California-based company will also begin trading Friday morning.

Story by ProactiveInvestors