Kardigan Sets $1.5 Billion Valuation in Upsized IPO

Investors have signaled strong appetite for Kardigan’s precision therapeutics, driving the Princeton-based firm to price its initial public offering at the top of its expected range. The upsized sale pulled in $400 million, positioning the clinical-stage company for its Nasdaq debut this Thursday under the ticker symbol KARD.

Jun 18, 13:05· Money Talk· 1,061 reads

Kardigan Sets $1.5 Billion Valuation in Upsized IPO

Kardigan finalized the offering late Wednesday by selling 25 million shares at $16 each. This represents a significant expansion from the company’s initial target, which sought to move 23.3 million shares at a price point between $14 and $16.

This pricing strategy pushes the company’s market capitalization toward $1.5 billion, a figure that accounts for the potential exercise of an underwriters’ option to purchase an additional 3.75 million shares.

Kardigan Sets $1.5 Billion Valuation in Upsized IPO

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