Adagio Therapeutics $356 million IPO
We advised the underwriters on the IPO and Nasdaq listing
Davis Polk advised the representatives of the several underwriters in connection with the initial public offering of 20,930,000 shares of common stock of Adagio Therapeutics, Inc. at $17.00 per share (which includes the exercise in full by the underwriters of their over-allotment option), for total gross proceeds of approximately $356 million. The common stock is listed on the Nasdaq Global Market under the symbol “ADGI.”
Adagio is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential. Adagio’s lead product candidate, ADG20, is in development for the treatment and prevention of COVID-19, the disease caused by SARS-CoV-2, and its variants. The company’s portfolio also includes multiple broadly neutralizing antibodies, including ADG10, for potential use with ADG20 as a combination therapy for the treatment and prevention of COVID-19 and future coronavirus outbreaks.
The Davis Polk corporate team included partners Richard D. Truesdell Jr. and Roshni Banker Cariello and associates Ida Araya-Brumskine and Sophy Ma. Associate Justin Corvino provided tax advice. Partner David R. Bauer and associates Hilary Smith and David A. Frey provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.