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Latham & Watkins Advises on IO Biotech, Inc.’s IPO

November 5, 2021
Firm represents underwriters in offering by the clinical-stage biopharmaceutical company.

IO Biotech, Inc. has announced the pricing of its initial public offering of 7,150,000 shares of its common stock at a public offering price of US$14 per share, for total gross proceeds of approximately US$100.1 million, before deducting underwriting discounts and commissions and offering expenses. The shares are expected to begin trading on The Nasdaq Global Market on November 5, 2021, under the symbol IOBT. The offering is expected to close on November 9, 2021, subject to the satisfaction of customary closing conditions. In addition, IO Biotech has granted the underwriters a 30-day option to purchase up to an additional 1,072,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Nathan Ajiashvili and Alison Haggerty, with associates Kathleen Mehary and Sami Haidar.