WASHINGTON (dpa-AFX) - Iambic Therapeutics, Inc. announced an initial public offering of shares in which it is offering 9,375,000 shares of common stock to be sold. The initial public offering price is expected to be between $15.00 and $17.00 per share. The company has applied to list common stock on Nasdaq Global Select Market under the symbol, IAM, and the offering is contingent upon obtaining approval of such listing.
ARK Investment Management LLC, one of the existing investors, and Duquesne Family Office LLC have expressed an indication of interest to purchase up to an aggregate of $60.0 million in shares of common stock in the offering at the initial public offering price per share. The company has granted the underwriters an option for a period of 30 days to purchase up to 1,406,250 additional shares of common stock.
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