Iambic Launches Nasdaq IPO at $16 Per Share, Raising $150 Million
Iambic set the price of its public offering on Nasdaq at $16 per share, the midpoint of its price range, raising $150 million with an implied market value of $809 million.
Iambic Therapeutics set the price of its initial public offering on the Nasdaq exchange at $16 per share, the midpoint of its price range of $15 to $17.
The offering will sell 9.375 million shares for a total value of $150 million, implying a market capitalization of approximately $809 million.
J.P. Morgan, Jefferies, BofA Securities, and Citi managed the offering as joint lead book-running managers.
Trading of the stock is expected to begin on October 15 under the ticker symbol "IAM" on the Nasdaq stock exchange.
What do these terms mean?
Initial Public Offering (IPO): The first process in which a company sells its shares to the public and lists its name on the stock exchange.
Price Range: The price band set by the company and its advisors to receive subscription orders, from which the final offering price is selected.
Implied Market Value: The total value of the company calculated from the offering price and its number of shares.
Lead Underwriter: The investment bank that organizes the offering and communicates with investors to collect orders.
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