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ADARx Pharmaceuticals (ADRX) priced its upsized initial public offering at $17.00 per share on September 24, 2026. ADARx is offering 26,250,000 common shares and expects approximately $446.3 million in gross proceeds before expenses. The underwriters have a 30-day option to buy up to 3,937,500 additional shares. Trading on the Nasdaq Global Select Market is expected to begin September 25, with the offering expected to close September 28, subject to customary closing conditions.
AbbVie has agreed to buy shares at $17.00 each in a concurrent private placement, up to a $100.0 million purchase limit. The purchase would give AbbVie approximately 4.9% of ADARx's outstanding common shares after both transactions close. ADARx expects approximately $535.2 million in combined gross proceeds before expenses, excluding any exercise of the underwriters' option. The private placement depends on the IPO closing; the IPO does not depend on the private placement.