University of Pennsylvania-linked Passage Bio issued 4.6 million more shares than originally planned to raise $216m, up more than 70% on its $125m original target.
Passage Bio, a US-based genetic medicines developer exploiting University of Pennsylvania research, raised $216m in an initial public offering yesterday after issuing 12 million shares priced at $18.
Passage Bio had hoped to raise $125m when it unveiled plans earlier this month to go public. It subsequently decided to issue 7.4 million shares priced at $16 to $18, before increasing the number of shares to 10 million yesterday morning and 12 million shortly afterwards.
The company will…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
