Credit: Shutterstock photoAVROBIO, which is developing stem cell gene therapies to cure rare lysosomal storage diseases, raised $100 million by offering 5.25 million shares at $19, above the proposed range. It had originally planned to raise $75 million by offering 4.4 million shares at a range of $16 to $18. Insiders had indicated on purchasing $37.5 million of the IPO.
AVROBIO plans to list on the Nasdaq under the symbol AVRO. Morgan Stanley, Cowen & Company and Wells Fargo Securities acted as lead managers on the deal.
The article Gene therapy biotech AVROBIO prices upsized IPO above the range at $19 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
