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The company initially planned to sell 13.2 million shares, each priced between $16 and $18. However, due to higher-than-expected demand, it ended up selling over 16.1 million shares at $18 each. This led to an impressive market debut for RayzeBio.
Following the opening, RayzeBio’s shares were traded as high as $25.30, marking an approximately 41% increase in value from the initial price of $18 per share. The shares started trading at a robust $25.
In addition to the successful IPO, RayzeBio has provided its underwriters with an option to purchase an additional 2.59 million shares if they wish to do so. This move offers further potential for raising capital and strengthening the company’s market position.
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