The company confirmed late Thursday that it sold 11.1 million shares, a significant increase from the original plan to offer 9.72 million shares. By setting the price at $18, City Therapeutics landed squarely within its projected range of $17 to $19. The stock is scheduled to begin trading on the Nasdaq Global Market under the ticker symbol CTY.
City Therapeutics Raises $200 Million in Upsized Nasdaq Debut
With an upsized offering priced at $18 per share, Cambridge-based City Therapeutics enters the public market Friday to raise approximately $200 million. The clinical-stage biotechnology firm secured the midpoint of its targeted range, successfully expanding its initial share count to meet investor demand ahead of the Nasdaq listing.
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