WASHINGTON (dpa-AFX) - Sionna Therapeutics Inc. (SION) announced the pricing of its upsized initial public offering of 10.59 million shares of its common stock at a public offering price of $18.00 per share.
In addition, Sionna has granted the underwriters a 30-day option to purchase up to 1.59 million additional shares of its common stock at the public offering price, less underwriting discounts and commissions. Sionnas shares are scheduled to begin trading on the Nasdaq Global Market on February 7, 2025 under the ticker symbol 'SION.'
The offering is expected to close on February 10, 2025.
The company expects gross proceeds from the initial public offering to be about $191 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding any exercise of the underwriters option to purchase additional shares of common stock.
Goldman Sachs & Co. LLC, TD Cowen, Stifel, and Guggenheim Securities are acting as joint book-running managers for the offering.
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