Acrivon Therapeutics (ACRV proposed), a cancer biotech, filed terms – 5.9 million shares at $16.00 to $18.00 – early today (Thursday, Nov. 3, 2022) and landed on next week’s IPO Calendar. The deal, which will raise $100.3 million if priced at the $17.00 mid-point, launched today as well. It’s set to price on Wednesday night, Nov. 9, to trade Thursday, Nov. 10, on the NASDAQ
Morgan Stanley, Jefferies, Cowen and Piper Sandler are the joint book-runners.
Patients with platinum-resistant ovarian, endometrial and bladder cancer will be treated in Phase 2 clinical trials of Acrivon Therapeutics’ leading drug candidate, ACR-368, according to the prospectus.
This is the first big IPO ($100 million-plus) to land on the IPO Calendar since Mobileye (MBLY) last week. Mobileye Global Inc., Intel’s self-driving car unit, raised $861 million – pricing its IPO at $21.00 – $1.00 above its range – on Tuesday night, Oct. 25. The stock jumped nearly 38 percent to close at $28.97 in its first day of NASDAQ trading on Wednesday, Oct. 26, 2022. Mobileye’s stock was trading at $24.86 at about 10:30 a.m. EDT on Thursday, Nov. 3.
Next week’s IPO Calendar now shows five deals – Acrivon Therapeutics and four micro-cap deals. More small deals, and possibly a SPAC IPO, may join the calendar in the next few days.
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
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