Upstream Bio Announces Closing of $293 Million Upsized Initial Public Offering, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares

WALTHAM, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Upstream Bio, Inc. (Nasdaq: UPB), a clinical-stage biotechnology company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders, today announced the closing of its upsized initial public offering of 17,250,000 shares of its common stock at a public offering price of $17.00 per share, which includes 2,250,000 shares issued upon the full exercise by the underwriters of their option to purchase additional shares of common stock. All of the shares of common stock were offered by Upstream. The gross proceeds to Upstream from the initial public offering were approximately $293 million, before deducting underwriting discounts and commissions and other offering expenses. The shares began trading on the Nasdaq Global Select Market on October 11, 2024 under the ticker symbol “UPB.”