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ARTICLE | Financial News

Constellation raises $60M in NASDAQ IPO

July 20, 2018 5:14 PM UTC

Epigenetics company Constellation Pharmaceuticals Inc. (NASDAQ:CNST) raised $60 million on July 18 through the sale of 4 million shares at $15 in a downsized IPO. Underwriters are J.P. Morgan, Jefferies, BMO Capital Markets and Oppenheimer. The price valued Constellation at $385.5 million.

This month, the company said it hoped to sell 5.3 million shares at $14-$16. A sale of that many shares at $15 would have raised $80.1 million and valued Constellation at $405.6 million. Constellation proposed in June to raise up to $86.3 million...