On October 21, 2021 Xilio Therapeutics, Inc. (Xilio) a biotechnology company developing tumor-selective immuno-oncology therapies for patients with cancer, reported the pricing of its initial public offering of 7,353,000 shares of its common stock at a price to the public of $16.00 per share (Press release, Xilio Therapeutics, OCT 21, 2021, View Source [SID1234591725]). The gross proceeds to Xilio from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Xilio, are expected to be approximately $117.6 million. In addition, Xilio has granted the underwriters a 30-day option to purchase up to an additional 1,102,950 shares of its common stock at the initial public offering price less underwriting discounts and commissions. All of the shares are being offered by Xilio.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol "XLO" on October 22, 2021. The offering is expected to close on October 26, 2021, subject to the satisfaction of customary closing conditions.

Morgan Stanley, Cowen and Guggenheim Securities are acting as joint book-running managers for the offering. Raymond James is acting as lead manager for the offering.

A registration statement relating to the offering of these securities has been filed with the Securities and Exchange Commission (SEC) and was declared effective on October 21, 2021. The offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from Morgan Stanley & Co. LLC by mail at Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone at (866) 718-1649 or by email at [email protected]; Cowen and Company, LLC by mail at Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (833) 297-2926 or by email at [email protected]; and Guggenheim Securities, LLC by mail at Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.