June 26 Financial Quick Takes: Adaptive prices upsized IPO; plus BridgeBio, Medicines Co., Global Blood, Odonate
Adaptive raises $300M in IPO
Adaptive Biotechnologies Inc. (NASDAQ:ADPT) raised $300 million through the sale of 15 million shares at $20 in an IPO on NASDAQ. The deal price values the computation immunology and diagnostics company at $2.4 billion. Shortly before pricing, the company amended its offering to sell 15 million shares at $18-$19. Last week, it had proposed to sell 12.5 million shares at $15-$17. Underwriters are Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Cowen, Guggenheim, William Blair and BTIG.
BridgeBio upsizes IPO plans
Ahead of an IPO expected to price before Thursday's trading session begins, BridgeBio Inc. (Palo Alto, Calif.) upsized the proposed terms of its NASDAQ offering. BridgeBio now plans to sell 20 million shares at $14-$16; it had said last week it would aim to sell 15 million shares in the same price range. The company in-licenses preclinical and clinical assets from academia and pharma, and houses them in individual subsidiaries. Underwriters are J.P. Morgan, Goldman Sachs, Jefferies, SVB Leerink, KKR, Piper Jaffray, Mizuho, BMO Capital Markets and Raymond James...