Kronos Bio Prices IPO At $19/Shr, Above Estimated Range

(RTTNews) - Kronos Bio, Inc. announced that it has priced initial public offering of 13.16 million shares of common stock at $19.00 per share. The offering is expected to close on October 14, 2020.

The company has originally filed to sell 10.29 million shares at a range of $16.00 and $18.00 per share.

Earlier on Thursday, the company filed an amendment and the size of the IPO was increased to 13.16 million shares.

The company expects offering gross proceeds, before expenses, to be about $250.00 million.

In addition, Kronos Bio has granted underwriters a 30-day option to buy additional 1.97 million common shares at the initial public offering price less the underwriting discounts and commissions.

The company shares are expected to begin trading on the Nasdaq Global Select Market on October 9, 2020, under the ticker symbol "KRON."

Goldman Sachs & Co. LLC, Jefferies, Cowen and Piper Sandler are acting as joint book-running managers for the offering.