Alumis Pushes Through With Smaller IPO, Looks to Raise $250M for Immuno Candidate

Published: Jun 28, 2024 By Tristan Manalac

Nasdaq MarketSite, NY/iStock, hapabapa

Pictured: Nasdaq building in New York City/iStock, hapabapa

Alumis on Friday announced that it would proceed with its initial public offering, though with a smaller raise than it had recently hoped.

The San Francisco-based biotech will put more than 13,1 million shares of its common stock up for sale at $16 apiece. Concurrent with its initial public offering (IPO), Alumis will also sell 2.5 million additional shares in a private placement with AyurMaya Capital Management Fund. In total, the company expects to raise $260 million in gross proceeds, before taking away underwriting discounts and commissions.

Alumis can make more money from a 30-day over-allotment option, during which underwriters can purchase up to nearly 1,97 million additional shares of the biotech’s common stock at the IPO price. The…
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