Credit: Shutterstock photoArvinas Holding, a preclinical biotech developing protein degradation therapies for advanced cancers, raised $120 million by offering 7.5 million shares at $16, the high end of the $14 to $16 range. The company raised $20 million more than it had planned by pricing at the high end and offering 0.83 million additional shares.
Insiders had intended to purchase $40 million of the IPO (33% of the deal).
Arvinas plans to list on the Nasdaq under the symbol ARVN. Goldman Sachs, Citi and Piper Jaffray acted as lead managers on the deal.
The article Cancer biotech Arvinas prices upsized IPO at $16, the high end of the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
