Intellia cures supply problem with upsized IPO

摘要

Intellia therapeutics renewed investor interest in the biotechnology space with an IPO that was both upsized and priced at the high end of the marketed range. The outcome was not entirely unexpected as the offering was heavily oversubscribed and the supply of stock available was limited by insider participation. Credit Suisse, Jefferies and Leerink Partners priced 6m shares at US$18.00, versus a US$16-$18 marketing range and an increase from 5m shares. The upsizing helped alleviate tight supplies due to high levels of participation from existing investors.