Aduro Biotech Prices IPO At $17.00/shr

(RTTNews) - Aduro Biotech Inc. (ADRO) announced that it has priced its initial public offering of 7 million shares of common stock at a price to the public of $17.00 per share.

In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1.05 million shares of common stock at the initial public offering price, less the underwriting discount.

Aduro's common stock is expected to begin trading on The NASDAQ Global Select Market under the symbol "ADRO" on April 15, 2015.

The offering is expected to close on April 20, 2015, subject to customary closing conditions.

Aduro estimates net proceeds from the offering will be approximately $107.7 million (assuming no exercise of the underwriters' option to purchase additional shares of common stock), after deducting the underwriting discount and estimated offering expenses payable by Aduro. Aduro's net proceeds from a concurrent private placement at a price of $17.00 per share are expected to be $25.0 million.

BofA Merrill Lynch and Leerink Partners LLC are acting as joint book-running managers for the proposed offering. William Blair and Canaccord Genuity are acting as co-managers.