Kardigan Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares
Kardigan™, Inc. (Nasdaq: KARD) (“Kardigan”), a clinical-stage precision therapeutics company developing medicines that target the root cause of specific cardiovascular diseases where no approved treatments exist, today announced the closing of its initial public offering of an aggregate 28,750,000 shares of its common stock, including the full exercise by the underwriters of their option to purchase 3,750,000 additional shares, at an initial public offering price of $16.00 per share. All of the shares of common stock were offered by Kardigan. The aggregate gross proceeds from the offering of the initial shares and the additional shares described above, before deducting underwriting discounts and commissions and other offering expenses, were $460 million.
