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Moderna prices upsized IPO at $23 midpoint; largest biotech IPO ever


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Moderna, an early-stage biotech developing therapies based on its modified mRNA platform, raised $604 million by offering 26.3 million shares at $23, the midpoint of the $22 to $24 range. The company offered additional shares to raise 21% more than originally planned. At pricing, Moderna commands a fully diluted market value of $8.1 billion.

Moderna plans to list on the Nasdaq under the symbol MRNA. Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Barclays and Piper Jaffray acted as lead managers on the deal.

The article Moderna prices upsized IPO at $23 midpoint; largest biotech IPO ever originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.




This article appears in: News Headlines , IPOs



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