MAIA Biotechnology (MAIA) has priced its $10M initial public offering.
The biotech group said that it plans to offer 2M shares at $5 per share. Underwriters will be granted a 45-day option to buy up to 300k additional shares at the IPO price.
MAIA expects the shares to begin trading on Friday on Nasdaq under the symbol MAIA. Think Equity is acting as sole bookrunner on the deal.
The company intends to use proceeds from the deal to help fund Phase 2 clinical trials for its therapy candidate THIO. The product is being developed as a treatment for lung cancer.
For a more in-depth look at MAIA, check out SA contributor Donovan Jones’s “MAIA Biotechnology Targets $10M IPO”.