Overview
- Seaport Therapeutics, which priced an upsized offering at $18 per share on Friday, expects about $254.9 million in gross proceeds.
- Shares are slated to begin trading on the Nasdaq Global Select Market under the ticker SPTX, with closing targeted for May 4 pending customary conditions.
- All 14,160,000 shares are being sold by the company, and underwriters have a 30-day option to buy up to 2,124,000 more shares at the IPO price.
- Goldman Sachs, J.P. Morgan, Leerink Partners, Citigroup, and Stifel are serving as joint bookrunners for the transaction.
- Seaport develops oral therapies for neuropsychiatric disorders using its Glyph platform, and the raise positions it to fund clinical studies and related work.