PolyPid Ltd. (PYPD) IPO Opens Flat

Today's IPO for PolyPid Ltd. (NASDAQ: PYPD) opened for trading at $16 after pricing 3,750,000 ordinary shares at a price to the public of $16.00 per share.

In addition, PolyPid has granted the underwriters a 30-day option to purchase up to 562,500 additional ordinary shares at the initial public offering price less underwriting discounts and commissions.

Barclays and BMO Capital Markets acted as joint book-running managers. Raymond James acted as lead manager. National Securities Corporation, ODDO BHF and A.G.P/Alliance Global Partners acted as co-managers.

PolyPid is a Phase 3 clinical-stage pharmaceutical company focused on developing targeted, locally administered and prolonged-release therapeutics using its proprietary PLEX technology.

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