The pharmaceutical company raised $32.7m after floating at a price far below its range, while Janssen Pharmaceutica took a 17% stake.
Pharmaceutical company Minerva Neurosciences went public on Tuesday in a $32.7m initial public offering that priced the shares at $6.00, well below its $10-12 range.
Johnson & Johnson subsidiary Janssen Pharmaceutica paid $19.7m for approximately 3.3 million shares through a private placement concurrent to the offering and now holds a 17.4% stake in Minerva.
Other shareholders, including medical research institution ProteoSys, Care Capital and Index Ventures, all bought small amounts of shares in the offering as their stakes were…
