Latham Advises on Kardigan’s US$460 Million IPO

Kardigan™, Inc. (Nasdaq: KARD) (Kardigan), a clinical‑stage precision therapeutics company developing medicines that target the root cause of specific cardiovascular diseases where no approved treatments exist, has closed its initial public offering of an aggregate 28,750,000 shares of its common stock, including the full exercise by the underwriters of their option to purchase 3,750,000 additional shares, at an initial public offering price of US$16 per share. All of the shares of common stock were offered by Kardigan. The aggregate gross proceeds from the offering of the initial shares and the additional shares described above, before deducting underwriting discounts and commissions and other offering expenses, were US$460 million. Kardigan’s common stock is listed on the Nasdaq Global Market under the ticker symbol KARD.

Latham & Watkins LLP represented the underwriters in the offering with a Capital Markets team led by partners Peter Handrinos and Elisabeth Martin, with associates Kathleen Mehary, Alison Vitello, and Jessica Kerr. Advice was also provided on FDA and healthcare matters by partners Elizabeth Richards and Betty Pang, with associate Evan Miller; on intellectual property matters by partner Steve Chinowsky and counsel Darryl Steensma, with associates Kristina Funahashi and Andrew Wang; on tax matters by partner Katharine Moir, with associate James Aldred; on executive compensation, employment, and benefits matters by partner Matthew Conway, with associate Ellie Graham; and on data privacy and cybersecurity matters by partner Heather Deixler, with associate Chad Leiper.