Press Release

RayzeBio Announces Upsized $357.6 Million IPO

September 19, 2023

San Diego – September 19, 2023 – Cooley advised RayzeBio, a targeted radiopharmaceutical company developing an innovative pipeline against solid tumor targets, on its upsized $357.6 million initial public offering. Partners Carlos Ramirez, Charlie Kim and Marya Postner led the Cooley team advising RayzeBio.

The initial public offering was for 19,869,240 shares of common stock at a price to the public of $18 per share, including the full exercise of the underwriters’ option to purchase up to 2,591,640 additional shares from RayzeBio (consisting of RayzeBio selling 18,706,240 shares and the selling stockholder named in the prospectus selling 1,163,000 shares). RayzeBio’s stock began trading on the Nasdaq Global Market on September 15, 2023, under the ticker symbol RYZB.

J.P. Morgan, Jefferies, Evercore ISI and Truist Securities acted as joint book-running managers for the offering.

As of the closing date of this IPO, Cooley worked on seven of eight US biotechnology IPOs raising at least $20 million in 2023.

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