RayzeBio, Inc. Announces Closing of Upsized $358 Million Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
September 19 2023 - 3:01PM
Business Wire
RayzeBio, Inc. (Nasdaq: RYZB), a targeted radiopharmaceutical
company developing an innovative pipeline against validated solid
tumor targets, today announced the closing of its previously
announced upsized $358 million initial public offering (IPO) of
19,869,240 shares of common stock, including the full exercise of
the underwriters’ option to purchase up to 2,591,640 additional
shares from RayzeBio, at a price to the public of $18.00 per share.
RayzeBio sold 18,706,240 shares of common stock and the selling
stockholder named in the prospectus sold 1,163,000 shares of common
stock. RayzeBio did not receive any proceeds from the sale of
shares by the selling stockholder. The aggregate gross proceeds to
RayzeBio from the offering, before deducting underwriting discounts
and commissions and other offering expenses payable by RayzeBio,
were approximately $336.7 million. The shares began trading on The
Nasdaq Global Market on September 15, 2023 under the symbol
“RYZB.”
J.P. Morgan, Jefferies, Evercore ISI and Truist Securities acted
as joint book-running managers for the offering.
Registration statements relating to these securities have been
filed with the U.S. Securities and Exchange Commission (SEC) and
became effective on September 14, 2023. A copy of the registration
statements can be accessed through the SEC’s website at
www.sec.gov. This offering was made only by means of a prospectus
forming part of the registration statements relating to these
securities. A copy of the final prospectus relating to this
offering may be obtained from: J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, NY
10022, or by telephone at (877) 821-7388, or by email at
Prospectus_Department@Jefferies.com; Evercore Group L.L.C.,
Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor,
New York, NY 10055, by telephone at (888) 474-0200, or by email at
ecm.prospectus@evercore.com; and Truist Securities, Inc.,
Attention: Prospectus Department, 3333 Peachtree Road NE, 9th
floor, Atlanta, GA 30326, or by telephone at (800) 685-4786, or by
email at TruistSecurities.prospectus@Truist.com.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or jurisdiction.
About RayzeBio
RayzeBio is building a vertically integrated radiopharmaceutical
therapeutics (RPT) company to treat various cancers, with its lead
program in a Phase 3 clinical trial. RayzeBio has created a
pipeline of multiple drug candidates in therapeutic areas with
significant market opportunities. Much like antibody drug
conjugates emerged as a new and transformative treatment modality
in certain cancers, the company sees an opportunity for innovative
radiopharmaceutical therapeutics to follow a similar path. RayzeBio
believes its strategic investments in building a robust product
pipeline, development capabilities, and manufacturing
infrastructure position the company to be an industry-leading
pioneer in the broad application of RPT for cancer.
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version on businesswire.com: https://www.businesswire.com/news/home/20230919072519/en/
Arvind Kush info@rayzebio.com
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