Global Legal Chronicle | Mustang Bio’s $40 Million Public Offering

Alston & Bird client Mustang Bio Inc., a clinical-stage biopharmaceutical company, has closed a public offering of common stock aimed at raising approximately $40 million.

Alston & Bird client Journey Medical Corp., a pharmaceutical company based in Scottsdale, AZ, completed its initial public offering (IPO) of 3,520,000 shares of common stock at a price to the public of $10 per share for gross proceeds of $35.2 million, before deducting underwriting discounts and offering expenses. All the shares of common stock were offered by Journey Medical.

Matt Mamak, Justin Howard, Mark McElreath, Robyn Downing, Natalie Clayton, Maddy Byrd, Mike Stevens, and Brendan Caroll are noted for representing Stemline Therapeutics in its $677 million acquisition by Menarini Group.