Codiak lands on Wall Street in second shot at IPO, raises $83M
Codiak Biosciences finally hit Wall Street on Tuesday in its second attempt to go public, but didn’t quite reach its $100 million goal.
The Cambridge, MA-based biotech raised $83 million by pricing 5.5 million shares at $15, the midpoint of a $14 to $16 range. When Codiak $CDAK submitted paperwork with the SEC in September, it initially proposed a $100 million raise — up from the $86.2 million raise it sought back in April 2019. Unfavorable market conditions led Codiak to back out of the first IPO last July.
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