City Therapeutics prices upsized IPO at $18 for about $200 million
City increased its offering to 11,111,111 shares at $18. Trading was expected on 16 October, with closing scheduled for 19 October.
A larger offering
City Therapeutics announced an upsized IPO on 15 October 2026, pricing 11,111,111 shares at $18 each for approximately $200 million in gross proceeds. All shares are offered by the company. The announcement arrived at 22:37 Eastern Time, already 16 October in Berlin.
The 9 October preliminary prospectus had proposed 9,722,222 shares at $17–$19. The final announced price sits at that range's midpoint, while the share count is larger. The earlier prospectus's proceeds estimates reflect the smaller proposed deal and should not be presented as final net proceeds.
Timetable and business
City expected its shares to begin trading on the Nasdaq Global Market under CTY on 16 October. Closing was expected on 19 October, subject to customary conditions. The pricing announcement establishes offering terms; it does not establish completed trading or settlement.
City is developing RNA interference medicines. Its preliminary prospectus identifies thromboembolic diseases, Stargardt disease and anemia associated with chronic disease as areas of focus. Underwriters have a 30-day option for 1,666,666 additional shares, separate from the base offering.