Sidley represented IO Biotech (Nasdaq: IOBT) in connection with its US$115.1 million initial public offering of common stock on The Nasdaq Global Market. IO Biotech sold 8,222,500 shares of its common stock, including the exercise in full by the underwriters’ option to purchase 1,072,500 additional shares of common stock, at the IPO price of US$14.00 per share.
Prior to the IPO, IO Biotech completed a corporate reorganization pursuant to which IO Biotech ApS, a corporation domiciled in Denmark, became a wholly owned subsidiary of IO Biotech, Inc., a newly formed Delaware corporation.
IO Biotech is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies, and is based in Copenhagen, Denmark.
The Sidley team was led by Frank Rahmani (Global Life Sciences, Emerging Companies and Venture Capital), Mehdi Khodadad (Private Equity and M&A), and Istvan Hajdu (Capital Markets), and included Nick DeAngelis, Cameron Woolley, Akina Newbraugh (Corporate), Asher Rubin, Adriana Tibbitts, Alison Lehner (Life Sciences Transactions), Christian Brause, Eric Grosshandler, Alvin Wang (Tax), Corey Perry, Matt Johnson (Employee Benefits and Executive Compensation), Alan Weil, Jesse Farb (Real Estate), Torrey Cope, Julea Lipiz (FDA Regulatory), Katie Klaben, Claudia Rios, Allen Kogan (Securities Enforcement and Regulatory (Section 16), Maurits Lugard, Josefine Sommer (EU Regulatory), Donielle McCutcheon, and Corbin Santo (Healthcare Regulatory).