IPOS - PROCEPT BioRobotics climbs over 40% after upsized IPO

The surgical robotics company Procept BioRobotics (NASDAQ:PRCT) has gained more than 40% on its public debut following an upsized IPO that priced 6.6M shares of the common stock at $25.00 apiece. Tyra (NASDAQ:TYRA) began trading at about 11:59 AM EST at $35.00 per share, implying a premium of ~40.0% to the IPO price. Shortly after, the shares gained another ~2.7% to reach $35.93 before reaching $36.38 to stand ~45.5% above the IPO price. The company initially filed for 5.5M shares at a price range of $22-$24 before advancing an upsized offering to raise $163.9M in gross proceeds. The commercial-stage company intends to use the proceeds and its existing liquidity to finance a range of activities, including the expansion of its sales and marketing team. Earlier in the day, Tyra Biosciences (TYRA), a precision oncology company, also made a strong public debut.

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PROCEPT BioRobotics climbs over 40% after upsized IPO