Summit to sell American Depositary Shares via initial public offering

Bookrunners JMP Securities and Oppenheimer, co-manager Needham assist

By Devika Patel

Knoxville, Tenn., Jan. 30 – Summit Corp. plc will price its initial public offering of American Depositary Shares representing ordinary shares with a 30-day greenshoe, according to a Form F-1 filed Thursday with the Securities and Exchange Commission. The company has registered up to $40 million of underlying ordinary stock.

JMP Securities and Oppenheimer & Co. are the bookrunners; Needham & Co. is the co-manager.

Proceeds will be used to advance products, for clinical trials, for working capital and for general corporate purposes.

The biopharmaceutical company is based in Oxfordshire, England. The company has applied to list the ADSs on the Nasdaq under the symbol “SMMT.”

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