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Finance Watch: Apogee, Sagimet Launch First Big US IPOs Of The Summer

13 First-Time Offerings So Far In 2023

 
• By Mandy Jackson

Public Company Edition: Apogee grossed $300m and Sagimet raised $85m in the biggest initial public offerings in the US since Acelyrin’s $540m IPO in May. Also, Bausch entered into a $600m funding facility with KKR, Bicycle raised $200m in a FOPO and Caribou garnered $150m from an offering and Pfizer.

Finance Watch Public Company
• Source: Alamy

Apogee Therapeutics, Inc. and Sagimet Biosciences, Inc. saw nothing unlucky about launching their initial public offerings on the 13th day of July, marking the first big biopharmaceutical company IPOs of the summer. Both companies sold more shares than planned and within proposed price ranges to gross $300m and $85m, respectively, in their public market debuts.

It still is unclear, however, whether 2023 will turn into a lucky year more broadly for companies that wish to...

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