- Iambic sold 9.375M shares at $16 (midpoint of its range) to raise $150M, opened at $16.15 shortly after noon ET Thursday, tripped a volatility halt, then climbed as high as $18.50 before closing at $18.91 — an 18.2% gain. Implied valuation roughly $850–877M. Book-runners: J.P. Morgan, Jefferies, BofA, Citi.
- The debut defied a soft IPO backdrop — Jersey Mike's and others have slid since listing, and Oura pulled its IPO. Iambic had heavyweight validation: Nvidia is an investor and tech partner, while ARK and Duquesne indicated $60M of demand at the IPO price. The company is a Phase 1 cancer biotech (lead candidate IAM1363, HER2 inhibitor) that has raised $461.8M since 2019.
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