Underwriters have exercised their over-allotment option in full, increasing the University of Pennsylvania-linked genetic medicine developer’s proceeds by $32.4m.
Passage Bio, a US-based genetic medicines developer commercialising University of Pennsylvania research, has increased its initial public offering to more than $248m after underwriters exercised their over-allotment option in full.
Underwriters purchased 1.8 million additional shares at the initial public offering price of $18, thereby injecting $32.4m into the company.
The company had raised an initial $216m in proceeds after issuing 12 million shares priced at $18 at the end of last month, an increase on the…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
