Scribe Therapeutics Prices Upsized IPO at $15 per Share

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Scribe Therapeutics (SCTX) said late Thursday it priced its upsized initial public offering of 8.6 million shares at $15 apiece.

The company previously planned to offer about 7.2 million shares between a price range of $13 to $15 per share.

Scribe Therapeutics has granted underwriters a 30-day option to purchase up to an additional 1.3 million at the offering price. The company aims to raise $128.7 million in gross proceeds from the offering, which is expected to close on Monday.

The shares are expected to begin trading on the Nasdaq on Friday under the SCTX ticker.

Additionally, Scribe Therapeutics agreed to sell 500,000 of its shares at $15 apiece to Sanofi (SNY) in a concurrent private placement, which is also expected to close on Monday.

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