Sionna Therapeutics Announces Closing of $219.2 million Upsized Initial Public Offering, Including Full Exercise of Underwriters' Option to Purchase Additional Shares

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Sionna Therapeutics Announces Closing of $219.2 million Upsized Initial Public Offering, Including Full Exercise of Underwriters' Option to Purchase Additional Shares - Benzinga

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BOSTON, Feb.10, 2025 (GLOBE NEWSWIRE) -- Sionna Therapeutics, Inc.(NASDAQ:SION), a clinical-stage biopharmaceutical company on a mission to revolutionize the current treatment paradigm for cystic fibrosis (CF) by developing novel medicines that normalize the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein, today announced the closing of its upsized initial public offering of 12,176,467 shares of its common stock at a public offering price of $18.00 per share, which includes 1,588,234 shares issued upon the full exercise by the underwriters of their option to purchase additional shares of common stock in the offering.

The gross proceeds to Sionna from the initial public offering were, including full exercise of the underwriters' option to purchase additional shares, approximately $219.2 million, before deducting underwriting discounts and commissions and offering expenses.

The shares commenced trading on the Nasdaq Global Market on February 7, 2025 under the ticker symbol "SION".Goldman Sachs & Co.LLC, ...