Corporate ActionApr 29, 2026, 09:03 PM
AVLN prices upsized IPO of 16.67M shares at $18.00; gross $300M
AI Summary
Avalyn Pharma Inc. priced its upsized initial public offering of 16,666,667 shares of common stock at $18.00 per share, expecting gross proceeds of $300 million. The company, a clinical-stage biopharmaceutical firm focused on inhaled therapies for rare respiratory diseases, granted underwriters a 30-day option to purchase an additional 2,500,000 shares. Trading is expected to commence on the Nasdaq Global Select Market on April 30, 2026, under the ticker "AVLN," with the offering closing on May 1, 2026.
Key Highlights
- AVLN priced its upsized initial public offering of 16,666,667 common shares at $18.00 per share.
- The offering is expected to generate gross proceeds of $300 million for Avalyn.
- Underwriters have a 30-day option to purchase an additional 2,500,000 shares of common stock.
- Shares are anticipated to begin trading on the Nasdaq Global Select Market under "AVLN" on April 30, 2026.
- The offering is expected to close on May 1, 2026, subject to customary closing conditions.
- Morgan Stanley, Jefferies, Evercore ISI, and Guggenheim Securities are acting as joint book-running managers.
- Avalyn Pharma is a clinical-stage biopharmaceutical company focused on inhaled therapies for rare respiratory diseases.