IPOs

Solid tumor biotech Relay Therapeutics prices upsized IPO at $20, above the upwardly revised range

Relay Therapeutics, a Phase 1 biotech developing precision small molecule therapies for solid tumors, raised $400 million by offering 20 million shares at $20, above the upwardly revised range of $18 to $19. The company originally planned to offer 14.7 million shares at $16 to $18 before increasing its proposed deal size Wednesday morning. At pricing, the company commands a fully diluted market cap of $1.8 billion.

Relay Therapeutics plans to list on the Nasdaq under the symbol RLAY. J.P. Morgan, Goldman Sachs, Cowen, and Guggenheim Securities acted as lead managers on the deal.

The article Solid tumor biotech Relay Therapeutics prices upsized IPO at $20, above the upwardly revised 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.

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