Inhibrx Announces Closing of Initial Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares
Inhibrx, a clinical-stage biotechnology company, has successfully completed its initial public offering (IPO) of 8,050,000 shares, including an over-allotment of 1,050,000 shares, priced at $17.00 per share. This IPO generated approximately $136.9 million in gross proceeds. The stock began trading on the Nasdaq under the symbol INBX on August 19, 2020. Jefferies, Evercore ISI, and Credit Suisse were the joint book-running managers for the offering, with LifeSci Capital serving as co-manager. The prospectus for this offering is available from the managing firms.
- IPO raised approximately $136.9 million for further development.
- Inhibrx has a focus on oncology and orphan diseases, indicating potential growth opportunities.
- All shares were sold by Inhibrx, indicating no additional capital raised from existing shareholders.
SAN DIEGO, Aug. 21, 2020 /PRNewswire/ -- Inhibrx, Inc. ("Inhibrx") (Nasdaq: INBX), a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates, today announced the closing of its previously announced initial public offering of 8,050,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase up to 1,050,000 additional shares, at a price to the public of
Inhibrx's common stock began trading on the Nasdaq Global Market on August 19, 2020 under the symbol "INBX".
Jefferies, Evercore ISI and Credit Suisse acted as joint book-running managers for the offering. LifeSci Capital acted as co-manager for the offering.
Registration statements relating to these securities became effective on August 18, 2020. This offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@Jefferies.com; Evercore Group, L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Inhibrx, Inc.
Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. The Inhibrx pipeline is focused on oncology and orphan diseases. Inhibrx has collaborations with Elpiscience, bluebird bio, Celgene and Chiesi.
Investor and Media Contact:
Amy Conrad
Juniper Point
amy@juniper-point.com
858-366-3243
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SOURCE Inhibrx, Inc.
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