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Boston, January 6, 2022 (Global News Agency)-CinCor Pharma, Inc. (“CinCor”) (NASDAQ:five), a clinical-stage biopharmaceutical company focused on the development of its main clinical drug candidate CIN-107 for the treatment of hypertension and other heart and kidney diseases, today announced its initial public offering of 12,100,000 shares of common stock at a price of $16.00 per share. Before deducting underwriting discounts and commissions and issuance expenses, CinCor’s total proceeds from the issuance are estimated to be US$193.6 million. All shares are provided by CinCor. In addition, CinCor has granted underwriters a 30-day option to purchase up to 1,815,000 common shares at the initial public offering price minus underwriting discounts and commissions.
The stock is expected to begin trading on the Nasdaq Global Market on January 7, 2022 under the code “CINC”. The issuance is expected to end around January 11, 2022, depending on customary transaction conditions.
Morgan Stanley, Jefferies and Evercore ISI will serve as joint bookrunners for this offering. Oppenheimer & Co. as the leader…
The full story can be found on Benzinga.com
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