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Biotech holding company Centessa Pharmaceuticals prices upsized IPO at $20 high end

May 28, 2021

Centessa Pharmaceuticals, a biotech holding company carved out of Medicxi, raised $330 million by offering 16.5 million shares at $20, the high end of the range of $18 to $20. The company offered 1.5 million more shares than anticipated. At the revised deal size, the company raised 16% more proceeds than expected and commands a fully diluted market value of $1.9 billion.

Centessa Pharmaceuticals plans to list on the Nasdaq under the symbol CNTA. Morgan Stanley, Goldman Sachs, Jefferies, and Evercore ISI acted as lead managers on the deal.