With US gov­ern­ment shut­down over, Gos­samer re­verts to tra­di­tion­al IPO plan

All Gos­samer Bio wants is to go pub­lic, and fast. But that hasn’t been easy.

One day be­fore the US shut­down be­gan (De­cem­ber 21), the com­pa­ny filed its prospec­tus with the SEC in a bid to go pub­lic. But the pro­tract­ed shut­down — which es­sen­tial­ly par­a­lyzed the SEC — prompt­ed Gos­samer to al­ter its plans. On Jan­u­ary 23 — two days be­fore the gov­ern­ment opened — the drug de­vel­op­er an­nounced it was us­ing a risky, rarely used path to forge ahead: Em­ploy­ing a fixed price and fore­go­ing the typ­i­cal­ly lengthy SEC re­view of their prospec­tus to green light the list­ing in fa­vor of en­abling their reg­is­tra­tion by lock­ing in their IPO price 20 days be­fore mak­ing a mar­ket de­but (Feb­ru­ary 13).

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