Intensity Therapeutics Inc. (NASDAQ: INTS), a Westport-headquartered clinical-stage biotechnology company focused on creating novel immune-based intratumoral cancer therapies designed to kill tumors and increase immune system recognition of cancers, closed its initial public offering (IPO) of 3.9 million shares of common stock at a public offering price of $5.00 per share.
In addition, Intensity granted the underwriters a 45-day option to purchase an additional 585,000 shares of its common stock at the IPO price, less the underwriting discounts and commissions. The Benchmark Company and Freedom Capital Markets acted as the joint book-running managers for the offering.
“The net proceeds to Intensity from the offering (prior to any exercise of the underwriter’s over-allotment option), after deducting the underwriting discounts, commissions and transaction expenses were approximately $16.2 million,” said the company in a press statement.
