Corporate ActionMay 7, 2026, 08:47 PM
Odyssey Therapeutics Prices Upsized IPO at $18.00/Share, Raises $304M
AI Summary
Odyssey Therapeutics, Inc. announced the pricing of its upsized initial public offering of 15,500,000 shares of common stock at $18.00 per share. The company also granted underwriters an option to purchase an additional 2,325,000 shares. Concurrently, Odyssey sold 1,388,889 shares to an affiliate of TPG Life Sciences Innovations in a private placement at the same price. The combined gross proceeds from these offerings are expected to be approximately $304 million, with shares anticipated to begin trading on the Nasdaq Capital Market under "ODTX" on May 8, 2026.
Key Highlights
- Odyssey Therapeutics priced its upsized initial public offering of 15,500,000 shares at $18.00 per share.
- Underwriters have a 30-day option to purchase up to an additional 2,325,000 shares.
- A concurrent private placement sold 1,388,889 shares to TPG Life Sciences Innovations at $18.00 per share.
- Gross proceeds from the IPO and private placement are expected to be approximately $304 million.
- Common stock is expected to begin trading on Nasdaq Capital Market on May 8, 2026, under "ODTX".
- The offering and private placement are expected to close on or about May 11, 2026.