Shattuck Labs, Inc., a biotechnology company that treats cancer and autoimmune disease, announced Thursday the price of its upsized initial public offering, according to a press release.
The company will offer 11,882,352 shares of common stock at $17.00 a share, and it expects to raise $202 million after subtracting underwriting discounts and other expenses from the offering.
Shattuck will trade on the Nasdaq under the ticker “STTK” beginning Oct. 9, 2020, and it expects the offering to close Oct. 14 “subject to the satisfaction of customary closing conditions.”
Founded in 2016, Shattuck Labs develops treatments for cancer and autoimmune diseases through bi-functional fusion proteins and its proprietary Agonist Redirected Checkpoint (ARC) technology. The company has offices in Austin, Texas and Durham, North Carolina.
Citigroup, Cowen and Evercore ISI served as joint book-running underwriters for the offering.
Shattuck will allow the underwriters a 30-day option to purchase up to 1,782,352 additional common stock at the price of the initial public offering.