Adagio Therapeutics Sets Terms For Over $300M IPO

Adagio Therapeutics ADGI has set terms for the IPO, looking to raise well north of $300 million if they hit the top of the $16 to $18 range.
Since its inception in 2020, the Company has raised $470 million from some high-profile investors.
At the midpoint, the valuation sits right around $2 billion.
The Company earlier filed to raise $100 million via IPO.
As per the S-1/A, the Company has earmarked approximately $545.0 million to fund clinical development, manufacturing supply, and initial commercialization costs for ADG20, its COVID-19 antibody candidate.