Aardvark Therapeutics Moves Forward with $94.2 Million IPO

Deal News | Feb 13, 2025 | Paul Hastings

Aardvark Therapeutics Moves Forward with $94.2 Million IPO

Aardvark Therapeutics, a clinical-stage biopharmaceutical company, is poised to initiate a public offering estimated at $94.2 million on the Nasdaq Global Select Market. The offering includes 5,888,000 shares of common stock priced at $16.00 each and is scheduled to finalize on February 14, pending customary conditions. Paul Hastings LLP, a renowned international law firm, is advising Aardvark through this process. The legal team is spearheaded by Jeff Hartlin, and includes partners and associates specialized in corporate law. The IPO aims to bolster Aardvark's advancements in developing small-molecule therapeutics for metabolic diseases, offering underwriters a 30-day option for additional shares.

Sectors

  • Biopharmaceutical
  • Legal Advisory

Geography

  • United States – Aardvark Therapeutics is conducting its IPO on the Nasdaq, a major U.S. stock exchange.

Industry

  • Biopharmaceutical – Aardvark Therapeutics operates within the biopharmaceutical industry, focusing on developing therapeutics for metabolic diseases.
  • Legal Advisory – Paul Hastings LLP is involved as the legal advisor for the IPO, highlighting the role of law firms in financial and corporate structuring.

Financials

  • $94.2 million – The estimated total proceeds from Aardvark's IPO offering.
  • 5,888,000 shares – The number of shares of common stock offered in the IPO.
  • $16.00 – The public offering price per share.
  • 883,200 shares – Option for underwriters to purchase additional shares.

Participants

NameRoleTypeDescription
Aardvark Therapeutics, Inc.TargetCompanyA clinical-stage biopharmaceutical company planning to raise funds through an IPO.
Paul Hastings LLPLegal AdvisorCompanyInternational law firm advising Aardvark Therapeutics on its IPO.
Nasdaq Global Select MarketStock ExchangeCompanyThe platform where Aardvark is planning to list its shares.
Jeff HartlinLead CounselPersonChair of the Corporate practice at Paul Hastings leading the legal team.