Kadmon sticks a $100M toe in chilly market waters
Are we seeing a reanimation of the biotech IPO market? The investment community certainly hopes so, and now Kadmon will help put it to a test.
The biotech, a brainchild of ex-CEO and founder Sam Waksal, has laid out terms for its IPO, looking to sell 5.5 million shares within a range of $16 to $20 per. It’s another insider-heavy deal, with investors committing to buy up to 40% of the shares to help make it a success. And the company hopes to raise around $100 million in the effort.
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