BUZZ-SoftBank-backed Neumora poised for Nasdaq debut after $250-mln IPO

Reuters · 09/15/2023 09:06
BUZZ-SoftBank-backed Neumora poised for Nasdaq debut after $250-mln IPO

** SoftBank-backed Neumora Therapeutics NMRA.O set to begin trading on the Nasdaq later on Friday after raising $250 mln in its U.S. initial public offering

** Co sold 14.7 million shares priced at the mid-point of its previously disclosed range; IPO values Neumora at $2.58 bln

** NMRA to start trading a day after SoftBank-owned chip designer Arm Holdings soared in its market debut to a valuation over $60 bln

** "There’s growing hope that the IPO market will become more buoyant year. IPO activity is a strong indicator of overall sentiment," says Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown

** J.P. Morgan, BofA Securities, Stifel, Guggenheim Securities, RBC Capital Markets, and William Blair are acting as joint book-running managers for NMRA's offering


(Reporting by Manya Saini in Bengaluru)

((Manya.Saini@thomsonreuters.com))