It’s biotech Monday. Sagimet Biosciences (SGMT proposed) and Apogee Therapeutics (APGE proposed) set terms for their IPOs early today (Monday, July 10, 2023) and landed on the IPO Calendar for pricing this week. (Editor’s Note: This column, published early today, has been updated with pricing dates.)
Sagimet Biosciences(SGT proposed) plans to offer 4.69 million shares at $15.00 to $17.00 to raise $75.0 million. If priced at the $16.00 mid-point, Sagimet Biosciences would have a market cap of $344.8 million.
Goldman Sachs, TD Cowen, Piper Sandler and JMP Securities are the joint book-runners.
Apogee Therapeutics(APGE proposed) plans to offer 15.63 million shares (15,625,000 shares) at $15.00 to $17.00 to raise $250.08 million. If priced at the $16.00 mid-point, Apogee Therapeutics would have a market cap of $728.9 million.
Jefferies, TD Cowen, Stifel, Guggenheim Securities and Wedbush PacGrow are the joint book-runners.
Both IPOs are expected to price Thursday night, July 13, 2023, to trade Friday, July 14.
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.
