LEXINGTON, Mass., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Fractyl Health (NASDAQ:GUTS), a metabolic therapeutics company focused on pioneering new approaches for the treatment of type 2 diabetes (T2D) and obesity, today announced the pricing of its initial public offering of 7,333,333 shares of common stock at a public offering price of $15.00 per share, for total gross proceeds of approximately $110.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Fractyl Health. All of the common stock is being offered by Fractyl Health. The offering is expected to close on February 6, 2024, subject to customary closing conditions. In addition, Fractyl Health has granted the underwriters a 30-day option to purchase up to an additional 1,099,999 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.
Fractyl Health's common stock is expected to begin trading on the Nasdaq Global Market on February 2, 2024, under the ticker symbol "GUTS."
BofA Securities, Morgan Stanley and Evercore ISI are acting as joint book-running managers.
A registration statement relating to the securities being sold in the offering has been declared effective by the U.S. Securities and Exchange Commission ...