New Issue: Gentium prices downsied $21.6 million IPO at $9 per share, at low end of range

By Ronda Fears

Nashville, June 16 - Gentium SpA sold 2.4 million American Depositary Shares, down from a planned 2.7 million shares; for $9 each - at the low end of the proposed range of $9 to $11.

The $21.6 million IPO was brought to market via underwriters Maxim Group LLC and I-Bankers Securities Inc.

The Villa Guardia, Como, Italy-based biopharmaceutical company focused on drugs to treat a variety of vascular diseases and conditions related to cancer, plans to use proceeds to be used to repay its series A senior convertible plus accrued interest estimated at $343 million, for research and development, for clinical trials, for repayment of Sirton loans, for capital improvements, to hire personnel, to repay short-term bank debt, for working capital and general corporate purposes.

Issuer:	Gentium SpA
Issue:	2.4 million ADS, cut from 2.7 million
Bookrunners:	Maxim Group LLC and I-Bankers Securities Inc.
Proceeds:	$21.6 million
Greenshoe:	360,000 ADS, cut from 405,000
Price:	$9 per share
Price range:	$9 to $11
Pricing date:	June 15
Symbol:	GNT

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