Iambic Therapeutics Sets IPO Range at $15-$17, Targeting $780M Valuation
Summary
Iambic Therapeutics disclosed terms for its upcoming IPO: 9.4 million shares at $15-$17 each, targeting up to $159.4 million in proceeds and a valuation up to $805.8 million, with ARK and Duquesne indicating interest in $60 million of shares. At the $16 midpoint, the company would have 48.8 million shares outstanding. The AI-driven small-molecule drug developer says the proceeds plus existing cash will fund operations through the end of 2028. Listing is planned for Nasdaq Global Select Market under ticker IAM. This is the first public disclosure of the IPO pricing range and expected valuation, a key milestone for the company's debut. J.P.Morgan, Jefferies, BofA Securities and Citigroup are the lead underwriters.
Updated with a Reuters report · What changed
Updates
· Reuters — Iambic's IPO is now targeting up to $159.4 million in proceeds and a valuation up to $805.8 million, with ARK and Duquesne indicating interest in $60 million of shares.
- J.P.Morgan, Jefferies, BofA Securities and Citigroup are the lead underwriters.
This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.