Inozyme Pharma Prices IPO Of 7 Mln Shares At $16/Shr

(RTTNews) - Inozyme Pharma, Inc., announced the pricing of initial public offering of 7 million common shares at $16.00 per share, for gross proceeds of $112.0 million, before expenses.

The company has originally filed to sell 5.0 million shares at a range of $14 to $16 share. Earlier Thursday, the company raised the proposed offer shares to 6.5 million shares at an expected IPO price of $16 per share.

In addition, Inozyme granted underwriters an option for 30 days to buy 1.050 million additional shares at initial public offering price, less underwriting discounts and commissions.

Inozyme expects its common stock to begin trading on Nasdaq under the ticker symbol "INZY" on July 24, 2020. The offering is expected to close on or about July 28, 2020.