Alto Neuroscience Prices Upsized Initial Public Offering Of 8.04M Common Shares At $16/Share
Portfolio Pulse from Benzinga Newsdesk
Alto Neuroscience, Inc. (ANRO) has announced the pricing of its upsized initial public offering (IPO) of 8.04 million shares at $16 per share, aiming to raise approximately $128.6 million before expenses. Additionally, underwriters have a 30-day option to purchase up to 1.206 million more shares at the IPO price, less discounts and commissions.
February 02, 2024 | 7:03 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Alto Neuroscience's IPO of 8.04M shares at $16 aims to raise about $128.6M. Underwriters may buy up to 1.206M additional shares.
The successful pricing of Alto Neuroscience's upsized IPO indicates strong market interest, which could lead to a positive short-term impact on ANRO's stock price. The option for underwriters to purchase additional shares further suggests confidence in the stock's performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100