IPO investors pay up for Freeline as biotech fever rises
Freeline, the UK gene therapeutics company, has priced its IPO on the Nasdaq exchange at the top of the pricing range, with investors willing to pay a big premium for the stock. The company is the latest deal in a global biotech issuance spree that has passed $60bn.
The company sold around 8.5m American Depositary Shares (ADS) at $18 each, the top of its initial $16-$18 a share range.
The all-primary offering raised $158.8m. The company’s largest shareholder, UK healthcare investor Syncona also bought shares in the deal, although its overall stake was diluted.Syncona, which ...