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Upstream Bio (Nasdaq: UPB), a clinical-stage biotechnology company targeting inflammatory diseases, has announced the pricing of its upsized initial public offering (IPO) of 15,000,000 shares at $17.00 per share. The shares are set to begin trading on the Nasdaq Global Market on October 11, 2024, under the ticker symbol UPB. The offering is expected to close on October 15, 2024, subject to customary closing conditions. Upstream has also granted underwriters a 30-day option to purchase an additional 2,250,000 shares. Gross proceeds from the IPO are expected to be $255.0 million, before deducting underwriting discounts, commissions, and offering expenses. The joint book-running managers for the offering are J.P. Morgan, TD Cowen, Piper Sandler, and William Blair. This announcement does not constitute an offer to sell or a solicitation of an offer to buy these securities.
