RayzeBio Inc. Announces IPO

RayzeBio Inc. is pleased to announce its upcoming initial public offering (IPO), with plans to sell over 13.2 million shares at a price range of $16 to $18 per share. At the midpoint of $17, the company expects to raise approximately $206.5 million in net proceeds. If the underwriters exercise their option to purchase an additional 2.16 million shares, this figure could reach approximately $240.7 million.

In addition to RayzeBio's offering, current investor PeptiDream will also be selling 1.16 million shares, making the total size of the IPO close to 14.4 million shares. This San Diego-based radiopharmaceutical therapeutics company boasts a promising pipeline of multiple drug candidates designed to treat cancer patients.

With the proceeds from the IPO and its existing resources, RayzeBio estimates that it will have sufficient funds to support its operations until at least 2025. Following the offering, the company foresees having around 57.5 million shares outstanding, assuming the overallotment option is exercised. This would result in a market capitalization of approximately $977 million based on the midpoint price of $17 per share.

RayzeBio has applied to list its shares on the Nasdaq Global Market, with the trading symbol RYZB.

For more information, please visit RayzeBio's website or contact our investor relations department.