Zymeworks Inc (NYSE:ZYME) disclosed the partial exercise of over-allotment option by underwriters of its initial public offering (IPO). Accordingly, the company indicated that the underwriters would acquire an additional 394,467 share at $13.00 a share.
As a result, Zymeworks will get additional gross proceeds of about $5.128 million. The company indicated that the closing of the over-allotment option is predicted to close by May 31.
Zymworks revealed that Citigroup Global Markets, Barclays Capital, and Wells Fargo Securities are the joint book-running managers to the issue. Canaccord Genuity Corp is the leader manager whereas Cormark Securities acted as co-manager. MTS Securities LLC acted as financial advisor to the issue.