City Therapeutics upsizes IPO, pricing 11.1 M shares at $18 each
+1 new source since this summary was written
City Therapeutics announced an upsized initial public offering of 11,111,111 shares at $18 per share, generating roughly $200 million in gross proceeds. The company will begin trading on Nasdaq under the symbol CTY on October 16, 2026. Underwriters received a 30‑day right to purchase up to 1,666,666 additional shares at the same price, after deducting customary discounts and commissions. Goldman Sachs, Jefferies, Stifel and Oppenheimer are acting as joint book‑running managers.
Why it matters
The capital raise will fund the company’s clinical‑stage RNA‑interference pipeline, according to the press release. The new Nasdaq listing provides a public market for CTY’s shares, creating liquidity for investors.
Key facts
- 1The IPO price was set at $18.00 per share. investing.com
- 2A total of 11,111,111 shares were offered. investing.com
- 3The offering is expected to produce about $200.0 million in gross proceeds before expenses. investing.com
- 4Underwriters have a 30‑day right to buy up to 1,666,666 extra shares at the IPO price, less discounts and commissions. investing.com
- 5Trading is scheduled to start on Nasdaq on October 16, 2026 under the ticker "CTY". investing.com
- 6Goldman Sachs, Jefferies, Stifel and Oppenheimer are the joint book‑running managers. investing.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.