Therapy Areas
Cyteir Therapeutics expects USD133m from IPO of common stock
18 June 2021 -

Oncology company Cyteir Therapeutics Inc (Nasdaq:CYT) disclosed on Thursday that it has priced its initial public offering of 7,400,000 shares of its common stock.

All of the shares are being offered by the company at an initial public offering price of USD18.00 per share for expected gross proceeds of approximately USD133m, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding any exercise of the underwriters' option to purchase additional shares.

The company has provided the underwriters with a 30-day option to purchase up to an additional 1,110,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

This offering is expected to close on 22 June 2021, subject to the satisfaction of customary closing conditions.

J.P. Morgan, Morgan Stanley and BofA Securities are acting as joint book-running managers for the offering.