Rajiv Shukla, Constellation Alpha Holdings

Can­del gets busy IPO week mov­ing with down­sized raise as Ra­jiv Shuk­la's third SPAC goes pub­lic

Ed­i­tor’s note: In­ter­est­ed in fol­low­ing bio­phar­ma’s fast-paced IPO mar­ket? You can book­mark our IPO Track­er here.

In a week that’s ex­pect­ed to see sev­er­al biotechs price their IPOs, Can­del Ther­a­peu­tics got things kicked off Tues­day with a mut­ed open­er.

The com­pa­ny helmed by for­mer Glax­o­SmithK­line vet Paul Pe­ter Tak made its way to Nas­daq thanks to a $72 mil­lion raise, which was down­sized by about 15% than orig­i­nal­ly an­tic­i­pat­ed, ac­cord­ing to Re­nais­sance Cap­i­tal. Can­del priced at $8 per share af­ter ini­tial­ly seek­ing to launch in the $13 to $15 range.

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