Targacept takes second shot at $60M IPO

Targacept of Winston-Salem, NC is making a second bid to go public with plans to raise about $60 million in an IPO. Targacept had filed to go public last March but pulled the filing due to chilly market conditions. That original IPO involved selling 6.25 million shares for $11 to $13 a share. Targacept has been working to develop new drugs to treat CNS disorders, including cognitive impairment, depression and anxiety, and pain. Deutsche Bank Securities will be acting as the sole book-running manager. Pacific Growth Equities, CIBC World Markets and Lazard Capital Markets will be co-managers for the offering.

- read this press release for more information