Gossamer sets fixed share price for $230M IPO to sidestep shutdown

In a bid to keep its IPO from getting bogged down by the U.S. government shutdown, Gossamer Bio Inc. (San Diego, Calif.) plans to take advantage of a rule allowing a company to file to go public with a fixed share price that would automatically become effective 20 calendar days later. The company said late Jan. 23 that it plans to raise $230 million through the sale of 14.4 million shares at $16 in an IPO on NASDAQ. The price would value the company at $966 million.

Gossamer expects to complete the pricing on Feb. 12 and begin trading the following day. Should the government shutdown end prior to Feb. 12, the company said it will reevaluate its use of the 20-day rule pursuant to Section 8(a) of the Securities Act...