Nvidia-Backed Iambic Sets Terms for $150M Nasdaq IPO

Biotech firm Iambic Therapeutics has set terms for its initial public offering on the Nasdaq exchange, intending to sell 9.4 million shares priced between $15 and $17 per share, according to Renaissance Capital. The company aims to raise about $150 million in total, or approximately $135 million net at the midpoint of the pricing range of $16.

The company noted in its offering filing that certain investors have indicated an interest in purchasing up to $60 million worth of shares, representing about 40% of the deal size, though none were named in the filing. Iambic's shares will be offered on Nasdaq under the symbol "IAM".

J.P. Morgan, Jefferies, BofA Securities, and Citi are serving as joint lead underwriters for the Nasdaq offering. Pricing is expected during the week of October 12, 2026, a step that will finalize the offer price and deal size.

Iambic is developing small-molecule therapeutics and is backed by Nvidia. The final offering price will determine actual net proceeds, as total funds raised vary based on the final share price within the stated range.

What do these terms mean?

Initial Public Offering (IPO): The first sale of a company's stock to the public on a stock exchange, allowing founders and early investors to sell their shares.

Price Range: The estimated minimum and maximum expected price per share; the final price is set after investor orders are collected.

Underwriters: Investment banks responsible for arranging the offering and selling shares to investors for a fee.

Small-Molecule Drugs: Medicines made from low-molecular-weight chemical compounds, typically taken in pill form.