Kronos Bio prices upsized IPO above range at $19 a share

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Kronos Bio Inc. priced its upsized initial public offering at $19 a share, above its $16 to $18 price range. The California-based biotech sold 13.2 million shares to raise about $250.8 million. The company had upsized the deal on Thursday from an original plan to offer 10.3 million shares. The shares will start trading on Nasdaq later Friday, under the ticker symbol “KRON.” Goldman Sachs & Co., Jefferies, Cowen and Piper Sandler were joint book-running managers for the offering.
Kronos Bio is looking to go public at a good time for IPOs, as the Renaissance IPO ETF IPO has rallied 76% in the year to date, while the S&P 500 has gained 6.7%.
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