ARMO BioSciences Announces Pricing of Initial Public Offering
ARMO BioSciences, Inc. (“ARMO”), a late-stage immuno-oncology company, today announced the pricing of its initial public offering of 7,529,412 shares of its common stock at a price to the public of $17.00 per share for total gross proceeds of approximately $128.0 million. The shares are expected to begin trading on The Nasdaq Global Select Market on January 26, 2018 under the ticker symbol “ARMO.” The offering is expected to close on January 30, 2018, subject to customary closing conditions.
In addition, ARMO has granted the underwriters a 30-day option to purchase up to an additional 1,129,411 shares of common stock at the public offering price, less underwriting discounts and commissions.
Jefferies LLC, Leerink Partners LLC and BMO Capital Markets Corp. are acting as joint book-running managers for the proposed offering. Baird is acting as co-manager.