Adagio Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential, today announced the pricing of its initial public offering of 18,200,000 shares of common stock at a price to the public of $17.00 per share. The gross proceeds to Adagio from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $309.4 million. All of the shares are being offered by Adagio. In addition, Adagio has granted the underwriters a 30-day option to purchase up to an additional 2,730,000 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global Market under the symbol “ADGI” on August 6, 2021, and the offering is expected to close on August 10, 2021, subject to customary closing conditions.
Morgan Stanley, Jefferies, Stifel and Guggenheim are acting as joint book-running managers for the offering.
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