RayzeBio, Inc. (Nasdaq: RYZB), a targeted radiopharmaceutical company developing an innovative pipeline against validated solid tumor targets, today announced the pricing of its upsized $311 million initial public offering of 17,277,600 shares of common stock at a price to the public of $18.00 per share. RayzeBio is offering 16,114,600 shares of common stock and the selling stockholder named in the prospectus is offering 1,163,000 shares of common stock. RayzeBio will not receive any proceeds from the sale of shares by the selling stockholder. The gross proceeds to RayzeBio from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by RayzeBio, are expected to be approximately $290.1 million. In addition, RayzeBio has granted the underwriters a 30-day option to purchase up to an additional 2,591,640 shares of common stock at the initial public offering price, less underwriting discounts and commissions.
The shares are expected to begin trading on The Nasdaq Global Market on September 15, 2023 under the symbol "RYZB." The offering is expected to close on September 19, 2023, subject to the satisfaction of customary closing conditions.
J.P. Morgan, Jefferies, Evercore ISI and Truist Securities are acting as joint book-running managers for the offering.
https://finance.yahoo.com/news/rayzebio-inc-announces-pricing-upsized-225100626.html
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