Synthetic biology company Codex DNA (NASDAQ: DNAY) popped more than 30% intraday on Friday in its first trading session following its IPO. The firm's common stock began trading on Friday June 18 under the ticker symbol "DNAY". Codex initially announced the launch of its public offering of 6.7 million shares of common stock on June 14. The price range was set between $14.00 and $16.00 per share.
IPO Details
Codex's stock initially opened 25% above its $16 IPO price around 11:00 a.m. on Friday, June 18. It later rose as high as 35.9%, to $21.75. Eventually, shares dropped but still ended the day 15.6% higher at a price of $18.50.
The biology company announced its IPO price on June 17, 2021, and expected trading to begin the following day. It offered 6,666,665 shares of its common...
