Tenaya Therapeutics announced that it priced an underwritten, upsized initial public offering of common stock worth $180 million.
South San Francisco-based Tenaya develops therapies for rare generic disorders and more prevalent heart conditions through gene therapy, cellular regeneration and precision medicine. The company is actively exploring different routs of administration and different infusion- and injection-based methods for delivering its therapies.
The company has also designed a new catheter to support more targeted delivery and more efficient uptake of therapeutic payloads in the heart.
According to a news release, the company’s IPO of 12 million shares of common stock is priced at $15 per share, with shares expected to begin trading today under the “TNYA” ticker. The offering is expected to close on Aug. 3, 2021, subject to customary closing conditions.
In the IPO, all shares are offered by Tenaya, with the gross proceeds before deducting discounts, commissions and expenses are expected to total $180 million. The company also granted underwriters a 30-day option to purchase up to 1.8 million additional shares at the IPO price.
Morgan Stanley, Cowen and Piper Sandler are acting as joint book-running managers for the offering. Chardan is acting as lead manager for the offering.