TRexBio Prices Nasdaq IPO at $14 a Share to Raise $116.7M

Clinical-stage biotechnology firm TRexBio has priced its initial public offering at $14 per share, expecting to raise approximately $116.7 million in gross proceeds ahead of its public market debut.

The Eli Lilly-backed therapeutics developer is listing its common stock on the Nasdaq Global Select Market under the ticker symbol TRXB, according to an Investing.com report.

Offering Details and Underwriter Allocation

The offering consists of 8,333,334 shares of common stock priced at $14.00 apiece. The $116.7 million figure represents gross proceeds before accounting for underwriting discounts, commissions, and other estimated offering expenses.

As part of the offering structure, underwriters received a 30-day option to purchase up to an additional 1,250,000 shares at the initial public offering price, according to a TradingView report.

Syndicate Management and SEC Filing

J.P. Morgan, Evercore ISI, Cantor, and Stifel managed the offering as lead book-running managers. Wedbush PacGrow participated alongside them as a book-running manager.

The registration statement for the offering was processed and became effective with the U.S. Securities and Exchange Commission under File No. 333-299018.