Cyteir Therapeutics Prices IPO Of 7.40 Mln Shares At $18.00/shr

(RTTNews) - Cyteir Therapeutics Inc. (CYT) said that it has priced its initial public offering of 7.40 million shares of its common stock at price of $18.00 per share.

In addition, Cyteir has granted the underwriters a 30-day option to purchase up to an additional 1.11 million shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

The shares are scheduled to begin trading on The Nasdaq Global Select Market on June 18, 2021 under the ticker symbol "CYT."

The company expects gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Cyteir, to be about $133 million excluding any exercise of the underwriters' option to purchase additional shares.

The offering is expected to close on June 22, 2021.