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Surface Oncology prices upsized IPO at $15, the high end of the range


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Surface Oncology, which is developing next-generation cancer therapies to boost the immune system, raised $108 million by offering an upsized 7.2 million shares at $15, the high end of the $13 to $15 range. The Cambridge, MA-based company originally filed to offer 6 million shares at the same range. Insiders intend to purchase $25 million (23%) of the IPO. Strategic partner Novartis invested an additional $11.5 million in a concurrent private placement at the IPO price. Surface Oncology plans to list on the Nasdaq under the symbol SURF. Goldman Sachs, Cowen & Company and Evercore ISI acted as lead managers on the deal.

The article Surface Oncology prices upsized IPO at $15, the high end of the range 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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