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Pandion Therapeutics Prices IPO Of 7.5 Mln At $18/Shr, At High End Of Range

Pandion Therapeutics, Inc. announced that it has priced initial public offering of 7.5 million common shares at $18.00 per share, for gross proceeds of $135.0 million, before expenses. The company expects to close the offering on July 21, 2020.

In addition, Pandion has granted underwriters an option for 30 days to buy 1.125 million additional shares of common stock at the public offering price, less underwriting discounts and commissions.

The company expects to begin trading on Nasdaq Global Market on July 17, 2020 under the symbol "PAND."

The company has originally filed to sell 5.5 million shares at a range of $16.00 and $18.00 per share. The underwriters have a 30-day option period to buy up to 825 thousand additional shares.

Earlier on Thursday, the company raised the proposed offer shares to 7.0 million shares and the underwriters have a 30-day option period to purchase up to 1.05 million additional shares.

Goldman Sachs & Co. LLC, Morgan Stanley and SVB Leerink are acting as joint book-running managers for the offering. BMO Capital Markets is also acting as a bookrunner for the offering.

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