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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