Acrivon therapeutics announces pricing of initial public offering

Watertown, mass., nov. 14, 2022 (globe newswire) -- acrivon therapeutics, inc. (“acrivon” or “acrivon therapeutics”) (nasdaq: acrv), a clinical stage biopharmaceutical company developing precision oncology medicines that it matches to patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proprietary proteomics-based patient responder identification platform, today announced the pricing of its initial public offering of 7,550,000 shares of common stock at a public offering price of $12.50 per share. in addition, acrivon has granted the underwriters a 30-day option to purchase up to an additional 1,132,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions. in addition to the shares sold in the initial public offering, acrivon announced a concurrent sale of 400,000 shares of common stock at the public offering price per share in a private placement to chione limited, an existing stockholder of acrivon. the sale of the shares of common stock in the private placement  will not be registered under the securities act of 1933, as amended. the gross proceeds to acrivon from the initial public offering and the concurrent private placement, without giving effect to the underwriters' option to purchase additional shares and before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $99.4 million. all of the shares of common stock are being offered by acrivon.
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