Iambic Prices IPO at $16, Raising $150M Ahead of Nasdaq Debut
Summary
Iambic Therapeutics priced its IPO at $16 per share, the midpoint of its $15-$17 range, raising $150 million before fees. The 9.375 million share offering is expected to close October 16, with trading on Nasdaq under 'IAM' starting October 15. Underwriters have a 30-day option for 1.4 million additional shares. This follows the October 8 disclosure of terms and confirms strong demand at the midpoint. The AI-driven drug discovery company, backed by Nvidia, will use proceeds to advance its clinical-stage pipeline.
Updates
· SEC 424B4 — The final prospectus confirms net proceeds of approximately $135.0 million and 47,400,796 shares outstanding after the offering.
This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.