RayzeBio Inc. RYZB has set terms for its initial public offering, as the California-based radiopharmaceutical company with a tumor treatment in a Phase 3 trial looks to raise up to about $238.2 million. A total of 14.4 million shares will be offered in the IPO, with the company offering 13.2 million shares and a selling shareholder offering 1.2 million shares. The IPO is expected to price between $16 and $18 a share. With 55,32 million shares expected to be outstanding after the IPO, the company could be valued at up to $995.7 million. the stock is expected to list on the Nasdaq under the ticker symbol “RYZB.” J.P. Morgan, Jefferies, Evercore ISI and Truist Securities are the underwriters. The company recorded a net loss of $30.6 million on no revenue over the six months ended June 30, after a loss of $33.5 million on no revenue in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF IPO has rallied 6.5% over the past three months while the S&P 500 SPX has gained 3.7%.
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