San Mateo, California-based Kronos Bio, a clinical-stage biopharmaceutical company, has raised about $250 million for its IPO after pricing its over 13.1 million shares at $19 per share. The stock began trading October 9, 2020 on the NASDAQ under the ticker symbol “KRON.” Goldman Sachs, Jefferies, Cowen and Piper Sandler were the lead underwriters. Kronos Bio’s pre-IPO backers included Vida Ventures LLC.
SAN MATEO, Calif. and CAMBRIDGE, Mass., Oct. 08, 2020 (GLOBE NEWSWIRE) — Kronos Bio, Inc., a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription, today announced the pricing of its initial public offering of 13,157,895 shares of its common stock at a price to the public of $19.00 per share. The gross proceeds to Kronos Bio from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $250.00 million. All of the shares are being offering by Kronos Bio. In addition, Kronos Bio has granted the underwriters a 30-day option to purchase up to an additional 1,973,684 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global Select Market on October 9, 2020, under the ticker symbol “KRON.” The offering is expected to close on October 14, 2020, subject to customary closing conditions.
Goldman Sachs & Co. LLC, Jefferies, Cowen and Piper Sandler are acting as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and became effective on October 8, 2020. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This offering is being made only by means of a written prospectus, forming a part of the effective registration statement. Copies of the final prospectus relating to the initial public offering may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at 866-471-2526, or by email at firstname.lastname@example.org; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 877-821-7388, or by email at Prospectus_Department@Jefferies.com; Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 833-297-2926, or by email at PostSaleManualRequests@broadridge.com; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924, or by email at email@example.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Kronos Bio, Inc.
Kronos Bio is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics designed to transform patient outcomes by targeting dysregulated transcription. The company has headquarters in San Mateo, Calif., and a research facility in Cambridge, Mass.