Silverback Therapeutics, Inc. (SBTX) Prices 11.5M Share IPO at $21/Sh

Silverback Therapeutics, Inc. (NASDAQ: SBTX), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, today announced the pricing of its initial public offering of 11,500,000 shares of its common stock at a price to the public of $21.00 per share. The gross proceeds to Silverback from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $241.5 million. All of the shares are being offered by Silverback. In addition, Silverback has granted the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Market on December 4, 2020, under the ticker symbol “SBTX.” The offering is expected to close on December 8, 2020, subject to customary closing conditions.

Goldman Sachs & Co. LLC, SVB Leerink and Stifel are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as the lead manager for the offering.

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