Cancer-Focused Biotech Co. Leads 2 IPOs Netting $561M Total

Law360 (July 16, 2020, 3:41 PM EDT) -- A cancer-focused biotechnology company and a specialty insurer debuted to receptive public markets on Thursday after pricing initial public offerings that raised $561 million combined under guidance from four law firms, joining an IPO stampede that shows no signs of easing.

Relay Therapeutics Inc., advised by Goodwin Procter LLP, led the pair of deals with a $400 million IPO that sold 20 million shares at $20, above its range of $18 to $19. Cambridge, Massachusetts-based Relay also raised its offering size from initial plans to sell 14.7 million shares.

Trean Insurance Group Inc., advised by Skadden Arps Slate Meagher & Flom...

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