SpringWorks Therapeutics IPO Prices at High End of Range
September 12 2019 - 7:07PM
Dow Jones News
By Josh Beckerman
Biopharmaceutical company SpringWorks Therapeutics Inc. (SWTX)
said its initial public offering of 9 million shares priced at $18
each.
On Sept. 3, SpringWorks said it expected to offer 7.35 million
shares at $16 to $18 each. The expected size was increased to 9
million shares earlier Thursday.
Pfizer Inc. (PFE), which licensed nirogacestat to SpringWorks in
2017, will have a post-IPO stake of about 10.9%, according to a
filing. Bain Capital and OrbiMed Advisors will each own about
17%.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 12, 2019 18:52 ET (22:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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