Kardigan Prices $400 Million IPO

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Kardigan (KARD) has priced its initial public offering of 25 million shares at $16 each for gross proceeds of about $400 million, the therapeutics company said late Wednesday.

The company said it has granted the underwriters a 30-day option to purchase up to an additional 3.8 million shares.

Shares are expected to begin trading on the Nasdaq Global Market on Thursday under the ticker "KARD."

The offering is expected to close on June 22.

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