Biotech

Surface Oncology (Nasdaq:SURF), a clinical-stage immuno-oncology company developing next-generation antibody therapies that target the tumor microenvironment, today announced the pricing of its initial public offering of 7,200,000 shares of common stock at a public offering price of $15.00 per share. In addition, Surface has granted the underwriters a 30-day option to purchase up to 1,080,000 …

Surface Oncology (Nasdaq:SURF), a clinical-stage immuno-oncology company developing next-generation antibody therapies that target the tumor microenvironment, today announced the pricing of its initial public offering of 7,200,000 shares of common stock at a public offering price of $15.00 per share. In addition, Surface has granted the underwriters a 30-day option to purchase up to 1,080,000 additional shares of common stock at the initial public offering price, less the underwriting discount.

As quoted in the press release:

The gross proceeds from the offering, before deducting underwriting discounts and estimated offering expenses, are expected to be $108.0 million, excluding any proceeds from the exercise of the underwriters’ option to purchase additional shares. Surface’s common stock is expected to begin trading on the Nasdaq Global Market under the ticker symbol “SURF” on April 19, 2018. All of the shares are being offered by Surface.

Goldman Sachs & Co. LLC, Cowen and Company, LLC and Evercore Group L.L.C. are acting as joint book-running managers for the offering.

Click here to read the full press release.

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