Kyverna Therapeutics (KYTX) Prices Upsized 14.5M Share IPO at $22/sh

Kyverna Therapeutics, Inc. (NASDAQ: KYTX) today announced the pricing of its upsized initial public offering of 14,500,000 shares of its common stock at an initial public offering price of $22.00 per share. All of the shares are being offered by Kyverna. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Kyverna, are expected to be $319.0 million. Kyverna's common stock is expected to begin trading on the Nasdaq Global Select Market on February 8, 2024 under the ticker symbol "KYTX." The offering is expected to close on or about February 12, 2024, subject to the satisfaction of customary closing conditions. In addition, Kyverna has granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

J.P. Morgan, Morgan Stanley, Leerink Partners, and Wells Fargo Securities are acting as joint book-running managers for the offering.

A registration statement relating to the offering has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on February 7, 2024. A copy of the registration statement can be accessed through the SEC's website at www.sec.gov. The offering is being made only by means of a prospectus forming part of the registration statement relating to these securities. When available, copies of the final prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected]; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; and Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

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