Jun. 22 at 10:37 PM
Kardigan a clinical-stage cardiovascular biotechnology company, has completed its initial public offering, selling 28.75M common shares at
$16.00 per share and raising approximately
$460M in gross proceeds before underwriting discounts, commissions, and other expenses.
The total offering size includes the full exercise of the underwriters’ option to purchase an additional 3.75M shares, indicating solid demand during the book-building process. All shares in the offering were sold directly by the company, meaning proceeds will primarily support corporate funding needs rather than existing shareholders.
Following the IPO, KARD began trading on the Nasdaq Global Market under the ticker “KARD.” The company is focused on developing novel cardiovascular therapies targeting diseases with no currently approved treatments, positioning itself in a high-need but highly competitive biotech segment.
$KARD