Vigil Neuroscience (VIGL) IPO: VIGL is set to debut today - Kalkine Media

January 07, 2022 11:12 AM PST | By Versha Jain
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Highlights

  • Vigil Neuroscience announced the pricing of its IPO at US$14.00 per share.
  • Vigil is offering 7,000,000 shares of its common stocks.
  • It will trade on Nasdaq under the ticker symbol VIGL.

Biotechnology company Vigil Neuroscience will debut on Nasdaq Friday.

The company is offering 7,000,000 shares of its common stocks for US$14.00 per share. The initial IPO price range was US$15.00 to US$17.00 per share.

Additionally, a total of 1,050,000 shares are reserved for the underwriters who can exercise their 30-day buy option at the offering price after deducting discounts and commissions.

The gross proceeds from this offering are expected to be US$98.0 million.

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The company filed the registration statement on Form S-1 for the IPO on November 19, 2021. 

The Securities and Exchange Commission (SEC) gave its nod on Jan 6, 2022. The offering will close on Jan 11, 2022, subject to the completion of customary closing conditions. The stocks were expected to start trading on Nasdaq Friday, January 7, 2022, under the ticker symbol VIGL.

The joint book-running managers for the IPO are Morgan Stanley, Stifel, Jefferies, and Guggenheim Securities.  

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Vigil Neuroscience (VIGL) IPO set to debut on NASDAQ today.

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Vigil Neuroscience’s business

Vigil Neuroscience is a microglia-focused therapeutics company. Microglia are the sentinel immune cells in the brain critical for the health of the central nervous system.

It develops treatments for common and rare neurodegenerative diseases by restoring the brain’s sentinel immune cells.  

It is headquartered in Cambridge, Massachusetts, with a total staff of 34 as of Nov 30, 2021.

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Financials

The company earned no revenue for the nine months ended September 30, 2021 (unaudited results). It had US$110.7 million in cash and cash equivalents as of September 30, 2021. 

The net loss was US$30.29 million or US$(19.94) per share diluted (unaudited) for the period. 

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Bottomline

Stock markets are volatile. Hence, investors should apply due diligence before investing in shares. Analysts forecast a continued growth momentum for the health sector.


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