Evelo Biosciences Announces Pricing of Initial Public Offering

Evelo Biosciences, Inc. (Nasdaq:EVLO) (“Evelo”) today announced the pricing of its initial public offering of 5,312,500 shares of common stock at a public offering price of $16.00 per share, before underwriting discounts and commissions. In addition, Evelo has granted the underwriters a 30-day option to purchase up to an additional 796,875 shares of common stock at the initial public offering price, less the underwriting discounts and commissions, to cover over-allotments, if any.¬† Evelo’s common stock is expected to begin trading on The Nasdaq Global Select Market on May 9, 2018 under the ticker symbol “EVLO.” All of the common stock is being offered by Evelo. The gross proceeds of the offering are expected to be $85 million, excluding any exercise of the underwriters’ option.

Morgan Stanley, Cowen and BMO Capital Markets are acting as book-running managers for the offering. JMP Securities is acting as lead manager for the offering.

Source: Evelo Biosciences