4 Firms Lead Clinical Stage Atai For $3B Valuation In IPO

By McCord Pagan (June 18, 2021, 4:19 PM EDT) -- Mental health-focused biopharmaceutical atai had a strong Nasdaq debut Friday, as its stock price rose about 30%, giving the company a market valuation of nearly $3 billion following an upsized initial public offering led by four law firms, including Dentons and Latham & Watkins LLP.

Berlin-based atai Life Sciences B.V. said in a Thursday statement it raised about $225 million by selling 15 million shares at $15 each, above previous plans to sell about 14.3 million shares for between $13 and $15 apiece. The clinical stage company's underwriters also have a 30-day option to buy up to an additional 2.25 million shares,...

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