On September 14, 2023, RayzeBio, Inc., a targeted radiopharmaceutical company developing an innovative pipeline against validated solid tumor targets, announced the pricing of its upsized $311 million initial public offering of 17,277,600 shares of common stock at a price to the public of $18.00 per share. RayzeBio is offering 16,114,600 shares of common stock and the selling stockholder named in the prospectus is offering 1,163,000 shares of common stock. Wilson Sonsini Goodrich & Rosati advised RayzeBio on all IP matters leading up to and with respect to the IPO.  

The gross proceeds to RayzeBio from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by RayzeBio, are expected to be approximately $290.1 million. In addition, RayzeBio has granted the underwriters a 30-day option to purchase up to an additional 2,591,640 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The shares began trading on The Nasdaq Global Market on September 15, 2023, under the symbol “RYZB.” The offering is expected to close on September 19, 2023, subject to the satisfaction of customary closing conditions.

The Wilson Sonsini IP team that advised RayzeBio includes Ying Chen, Michael Wormald, Céline Bonnefous, and Michael Hostetler.

For more information, please see RayzeBio’s news release.