WASHINGTON (dpa-AFX) - Generate Biomedicines, Inc. (GENB) on Thursday priced its initial public offering of 25,000,000 shares of stock at $16 per share, raising gross proceeds of $400 million.
The offering is expected to close on March 2.
The company granted underwriters a 30-day option to purchase up to an additional 3,750,000 shares at the initial public offering price.
The company said that the shares are expected to begin trading on the Nasdaq Global Select Market on February 27 under the ticker symbol 'GENB.'
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