Poseida Therapeutics Prices Upsized IPO Of 14 Mln Shares At $16/Shr

(RTTNews) - Poseida Therapeutics, Inc. announced the pricing of initial public offering of 14 million shares of common stock at $16.00 per share. The company expects to close the offering on July 14, 2020.

The company has originally filed to sell 10.0 million shares at a range of $14 to $16 share. Earlier on July 9, the company raised the proposed offer shares to 14 million shares at an expected IPO price of $16 per share.

Poseida Therapeutics shares are expected to begin trading on Nasdaq Global Select Market on July 10, under the symbol "PSTX". The company expects offering gross proceeds, before expenses, to be $224.0 million.

In addition, Poseida has granted the underwriters a 30-day option to buy additional 2.1 million common shares at the initial public offering price less underwriting discounts and commissions.

BofA Securities, Piper Sandler and William Blair are acting as joint book-running managers for the offering.