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Rapha Capital Management announced that its portfolio company, NexImmune, Inc., successfully closed an upsized initial public offering on February 17, 2021, raising approximately $126.5 million. The IPO's proceeds included the full exercise of the underwriters' option to purchase additional shares. Rapha Capital Investment II, LLC, had earlier invested $1.8 million in NexImmune through its Series A and A-2 financing rounds. NexImmune trades on the Nasdaq under the symbol NEXI and focuses on developing innovative immunotherapy solutions.
On February 17, 2021, NexImmune, Inc. successfully closed an upsized initial public offering (IPO), raising approximately $126.5 million before any deductions. The IPO saw an increase in demand, leading to the sale of 7,441,650 shares at a price of $17.00 each. On its first trading day, shares surged 49% to close at $25.33. NexImmune is a clinical-stage biotechnology company focused on novel immunotherapy approaches for hard-to-treat cancers and immune-mediated diseases.
NexImmune announced the closing of its upsized initial public offering (IPO) of 7,441,650 shares at $17.00 per share, amounting to gross proceeds of approximately $126.5 million. The offering included the full exercise of underwriters' option for an additional 970,650 shares. This financing aims to support NexImmune’s innovative immunotherapy development leveraging the body’s T cells for potent immune responses. The offering was managed by Barclays, Cantor Fitzgerald, Raymond James, and Allen & Company.
NexImmune, a clinical-stage biotechnology company, has announced the pricing of its upsized IPO, offering 6,471,000 shares at $17.00 each, raising approximately $110 million. The shares will trade on the Nasdaq under the symbol NEXI, starting February 12, 2021, with the offering expected to close on February 17, 2021. The underwriters have a 30-day option to purchase an additional 970,650 shares. Barclays Capital, Cantor Fitzgerald, Raymond James, and Allen & Company are the joint book-running managers for this offering.