At the $15 midpoint, the firm expects net proceeds to reach $320.3 million, a figure that could climb to $369.1 million if underwriters exercise their option to purchase an additional 3.5 million shares. These funds, combined with existing capital, are intended to support the company’s operations through 2028 as it advances treatments for cardiovascular diseases currently lacking approved therapies.
In section Market Quotes
Kardigan Targets $1.37 Billion Valuation in Nasdaq Debut
Princeton-based Kardigan is looking to raise over $320 million as it prepares to launch its initial public offering on the Nasdaq Global Market. The clinical-stage therapeutics company plans to sell 23.3 million shares, setting a price range between $14 and $16 per share to fund its cardiovascular drug research.
Following the offering, the company will have approximately 91.2 million shares outstanding, assuming the overallotment option is fully utilized. This structure positions the business for a market capitalization of roughly $1.37 billion. Kardigan has filed to trade under the ticker symbol KARD.
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