Kardigan prices upsized IPO at $16 per share on Nasdaq

Kardigan, Inc. (Nasdaq: KARD), a clinical-stage cardiovascular therapeutics company, priced its initial public offering of 25 million shares of common stock at $16 per share, according to a press release statement.

The offering is expected to generate gross proceeds of $400 million before underwriting discounts, commissions, and other expenses. Kardigan has also granted underwriters a 30-day option to purchase up to an additional 3.75 million shares at the IPO price, which could increase total proceeds if exercised. All shares are being offered by the company.

Kardigan's shares were expected to begin trading on the Nasdaq Global Market on June 18, 2026, with the offering expected to close on June 20, 2026, subject to customary closing conditions.

J.P. Morgan Securities LLC, Jefferies LLC, Leerink Partners LLC, and TD Securities (USA) LLC are serving as underwriters for the offering.

The company is based in South San Francisco, California, and Princeton, New Jersey, and is focused on developing treatments for cardiovascular diseases for which no approved therapies currently exist.

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