Shearman & Sterling advised the underwriters of Lyra Therapeutics, Inc.’s initial public offering of 4,025,000 shares of common stock at a public offering price of $16.00 per share, resulting in gross proceeds to the company of approximately $64 million. The 4,025,000 shares included 525,000 of shares issued pursuant to the underwriters’ option to purchase additional shares. The shares began trading on the Nasdaq Global Market under the ticker symbol “LYRA” on May 1, 2020.
BofA Securities, Jefferies and William Blair acted as joint book-running managers for the offering and BTIG acted as co-manager.
Lyra Therapeutics, Inc. is a clinical-stage therapeutics company focused on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose and throat, or ENT, diseases.
The Shearman & Sterling team below also included associates Natalie Ko and Polina Pristupa.