Nkarta, a preclinical developer of off-the-shelf cancer therapies based on natural killer cells, raised the proposed deal size for its upcoming IPO on Thursday.
The South San Francisco, CA-based company now plans to raise $215 million by offering 13 million shares at a price range of $16 to $17. The company had previously filed to offer 10 million shares at a range of $14 to $16. At the midpoint of the revised range, Nkarta will raise 43% more in proceeds than previously anticipated to command a fully diluted market value of $519 million.
Nkarta was founded in 2015 and plans to list on the Nasdaq under the symbol NKTX. Cowen, Evercore ISI, Stifel and Mizuho Securities are the joint bookrunners on the deal. It is expected to price during the week of July 6, 2020.
