Vaxcyte, a preclinical biotech developing next-generation pneumococcal vaccines, raised $250 million by offering 15.6 million shares at $16, the high end of the range of $14 to $16. The company offered 1.6 million more shares than anticipated. At pricing, the company commands a fully diluted market value of $841 million.
Vaxcyte plans to list on the Nasdaq under the symbol PCVX. BofA Securities, Jefferies, and Evercore ISI acted as lead managers on the deal.
