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ALX Oncology Prices Upsized IPO At $19/Shr, Above The Estimated Range

ALX Oncology Holdings Inc. announced the pricing of initial public offering of 8.5 million shares at $19.00 per share. The offering is expected to close on July 21, 2020.

ALX Oncology has originally to sell 8.0 million shares of common stock in the offering at a range of $15.00 and $17.00 per share, and the underwriters have an option for 30 days to purchase up to 1.2 million additional shares.

The company expects offering gross proceeds, before expenses, to be $161.5 million and the shares to begin trading on the Nasdaq on July 17, 2020, under symbol "ALXO."

In addition, ALX Oncology granted underwriters a 30-day option to buy additional 1.275 million shares at initial public offering price, less the underwriting discounts and commissions.

Jefferies, Credit Suisse, Piper Sandler and Cantor are acting as joint book-running managers for the offering. LifeSci Capital is acting as lead manager for the offering.

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