Biotech, Bank Raise Combined $276M In Low-Priced IPOs

Law360 (October 11, 2019, 3:14 PM EDT) -- Drug developer Vir Biotechnology Inc. and Chicago-area bank HBT Financial Inc. made their debuts in public markets Friday after raising nearly $276 million combined in initial public offerings that priced at the bottom of their ranges, capping off a mild week for IPOs.

San Francisco-based Vir, advised by Cooley LLP, raised $142.9 million after selling 7.1 million shares at $20 each, representing the bottom of its price range of $20 to $22. Illinois-based HBT Financial Inc. raised $132.8 million after selling 8.3 million shares at $16 each, below its stated range of $17 to $19.

Both IPOs priced late Thursday, and...

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