Pulmonary fibrosis biotechnology company Avalyn Pharma (AVLN.US) prices IPO at $18, raising $300 million, to debut on Nasdaq tonight

The company raised $300 million by issuing 16.7 million shares at a price of $18 per share, with the pricing set at the upper limit of the prior range of $16 to $18 per share. The company initially planned to issue 11.8 million shares, also within the pricing range of $16 to $18 per share, but expanded the issuance size on April 29. Based on this pricing, the company's fully diluted market capitalization will reach $813 million. Avalyn's stock is expected to officially begin trading on the Nasdaq Global Select Market on Thursday, April 30.