BOSTON — Seaport Therapeutics priced its upsized initial public offering at $18 per share, raising an expected $254.9 million in gross proceeds before underwriting discounts, commissions and other offering expenses.
The Boston-based clinical-stage therapeutics company, which is developing neuropsychiatric medicines, said it is offering 14.16 million shares of common stock. The IPO was priced at the top of the target range.
Seaport also granted underwriters a 30-day option to purchase up to an additional 2.124 million shares at the IPO price, less underwriting discounts and commissions.
The company’s shares are expected to begin trading May 1, 2026, on the Nasdaq Global Select Market under the ticker symbol “SPTX.” The offering is expected to close May 4, subject to customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan, Leerink Partners, Citigroup and Stifel are serving as joint book-running managers for the offering.
Seaport said its registration statement for the offering was declared effective by the U.S. Securities and Exchange Commission on April 30. The company said the offering is being made only by means of a prospectus.
