Gracell Biotech boosts US IPO size to $209m

By Jonathan Breen
08 Jan 2021

Gracell Biotechnologies has raised $209m from its Nasdaq IPO after increasing the size of the float and pricing the deal above the initial marketed range.

The Chinese clinical-stage biotech firm, which counts Singapore sovereign wealth fund Temasek among its backers, hit the market on Monday. It was originally offering 8.8m American depository shares (ADS), but on late Wednesday it revised the deal up 25% to 11m ADS.

Joint bookrunners Citi, Jefferies, Piper ...

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