Benzinga | Sep 25, 2020 05:42AM EDT

Prelude Therapeutics Prices 8.325M Share IPO @$19/Share

Prelude Therapeutics Incorporated (NASDAQ:PRLD) announced the pricing of its initial public offering of 8,325,000 shares of its common stock at a public offering price of $19.00 per share. The gross proceeds to Prelude, before deducting underwriting commissions and offering expenses, are expected to be approximately $158.2 million. All of the shares of common stock are being offered by Prelude Therapeutics. In addition, Prelude Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,248,750 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market on September 25, 2020 under the ticker symbol "PRLD." The offering is expected to close on September 29, 2020, subject to the satisfaction of customary closing conditions.

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