Tyra Biosciences’ $172.8 Million Initial Public Offering

Latham & Watkins represented Tyra Biosciences in the offering while Sidley advised the underwriters.

Tyra Biosciences, Inc. has announced the pricing of its upsized initial public offering of 10,800,000 shares of common stock at an initial public offering price of US$16.00 per share. All of the shares are being offered by Tyra. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Tyra, are expected to be US$172.8 million. The shares began trading on the Nasdaq Global Select Market on September 15, 2021 under the ticker symbol “TYRA”. In addition, Tyra has granted the underwriters a 30-day option to purchase up to an additional 1,620,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

BofA Securities, Jefferies and Cowen are acting as joint book-running managers for the offering.

Tyra Biosciences is a precision oncology company focused on developing purpose-built therapies to overcome tumor resistance and improve outcomes for patients with cancer.

Latham & Watkins represented Tyra Biosciences in the offering with a corporate team led by San Diego partners Matt Bush and Cheston Larson, with associates Jeffrey Woodley and Rachel Staub. Advice was also provided on benefits & compensation matters by San Diego partner Holly Bauer, with Los Angeles associate Vanessa King.

The Sidley team was led by Global Life Sciences partner Frank Rahmani (Palo Alto and San Francisco) and Capital Markets partner Sam Gandhi (New York), and associates Alex Csordas and Nithya Swaminathan (each New York). Other critical support was provided by Life Sciences Transactions partner Asher Rubin (Baltimore) and associate Alison Lehner (Baltimore); Employee Benefits and Executive Compensation partner Corey Perry (Chicago) and associate Richard Schneider (Chicago); FDA Regulatory partner Torrey Cope (Washington, D.C.) and associate Kelly Cho (Washington, D.C.); and Tax partner Rachel Kleinberg (Palo Alto) and associate Marianne Tassone (San Francisco).

Involved fees earner: Holly Bauer – Latham & Watkins; Matthew Bush – Latham & Watkins; Vanessa King – Latham & Watkins; Cheston Larson – Latham & Watkins; Rachel Staub – Latham & Watkins; Jeffrey Woodley – Latham & Watkins; Kelly Cho – Sidley Austin LLP; Torrey Cope – Sidley Austin LLP; Alexander Csordas – Sidley Austin LLP; Samir Gandhi – Sidley Austin LLP; Rachel D. Kleinberg – Sidley Austin LLP; Alison Lehner – Sidley Austin LLP; Corey Perry – Sidley Austin LLP; Frank Rahmani – Sidley Austin LLP; Asher Rubin – Sidley Austin LLP; Richard Schneider III – Sidley Austin LLP; Nithya Swaminathan – Sidley Austin LLP; Marianne Tassone – Sidley Austin LLP;

Law Firms: Latham & Watkins; Sidley Austin LLP;

Clients: Bank of America Securities; Cowen Inc.; Jefferies; Tyra Biosciences;

Martina Bellini

Author: Martina Bellini