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PMV Pharma Prices IPO At $18/Shr, At High End Of Range

PMV Pharmaceuticals, Inc. announced the pricing of initial public offering of 11.765 million common shares at $18.00 per share, at high end of expected range.

The company originally filed to sell 7.35 million common shares with an expected price of between $16.00 and $18.00 per share.

Earlier on Thursday, the company filed an amendment and the size of the IPO was increased to 11.765 million shares.

PMV Pharma's common stock to begin trading on Nasdaq Global Select Market on September 25, 2020 under the ticker symbol "PMVP."

The company expects offering to close on September 29, 2020 and estimates the offering gross proceeds, before expenses, to be about $211.8 million.

In addition, PMV Pharma has granted underwriters a 30-day option to buy additional 1.76 million shares at the initial public offering price less the underwriting discounts and commissions.

Goldman Sachs & Co. LLC, BofA Securities, Cowen and Evercore ISI are acting as joint book-running managers for the offering.

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