Wednesday, September 20, 2023

RayzeBio Raises $358M In IPO

San Diego-based pharmaceuticals company RayzeBio said on Tuesday that it has closed on its $358M IPO, selling 19,869,240 shares of its common stock at $18.00 per share. The IPO also saw an full exercise of additional shares sold by the undewriters. According to the company, it has received aggregate gross proceeds from the IPO of $336.7M. The company is now trading on the Nasdaq Global Market as RYZB, as of last Thursday. The IPO was underwritten by J.P. Morgan, Jefferies, Evercore ISI and Truist Securities. RayzeBio develops radiopharmaceuticals being targeted for treatment of cancer.