topstockalerts
Oct 1, 11:48 PM
ADARx Pharmaceuticals announced that underwriters fully exercised their option to purchase an additional 3,937,500 common shares at
$17 per share, with the transaction closing October 1, 2026. The exercise brings total shares sold in the company’s IPO to 30.1875 million, generating approximately
$513.2 million in gross proceeds before underwriting discounts, commissions and offering expenses.
Separately, AbbVie purchased 5,255,542 ADARx shares at
$17 per share through a concurrent private placement. Including the IPO, ADARx raised approximately
$602.5 million in total gross proceeds before fees and expenses.
The additional capital significantly expands ADARx’s funding base as it advances its pharmaceutical development programs. J.P. Morgan, Morgan Stanley, TD Cowen and UBS Investment Bank served as lead book-running managers, with LifeSci Capital acting as an additional bookrunner.
$ADRX $ABBV
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