Kardigan closes $460 million IPO, exercises option
Kardigan, Inc. closed its upsized initial public offering, selling 28,750,000 shares at $16.00 per share for aggregate gross proceeds of $460 million. The offering included the full exercise of the underwriters' option to purchase additional shares.
*this image is generated using AI for illustrative purposes only.
Kardigan, Inc. has closed its initial public offering, raising aggregate gross proceeds of $460 million before deducting underwriting discounts and commissions. The clinical-stage precision therapeutics company, which focuses on developing medicines for cardiovascular diseases where no approved treatments exist, priced 28,750,000 shares of common stock at $16.00 per share. The total includes the full exercise by the underwriters of their option to purchase an additional 3,750,000 shares.
All shares were offered by Kardigan. The company's common stock is listed on the Nasdaq Global Market under the ticker symbol "KARD". Registration statements relating to these securities were filed with the U.S. Securities and Exchange Commission and became effective on June 17, 2026.
Key Offering Details
| Detail | Information |
|---|---|
| Total Shares Sold | 28,750,000 |
| Public Offering Price | $16.00 per share |
| Aggregate Gross Proceeds | $460 million |
| Underwriters' Option | Fully exercised (3,750,000 shares) |
| Exchange | Nasdaq Global Market |
| Ticker Symbol | KARD |
J.P. Morgan Securities LLC, Jefferies LLC, Leerink Partners LLC, and TD Securities (USA) LLC acted as the underwriters for the offering. Kardigan is based in South San Francisco, California and Princeton, New Jersey.
How does Kardigan plan to allocate the $460 million in capital across its clinical-stage pipeline?
What are the anticipated timelines for key clinical trial readouts for Kardigan's cardiovascular therapeutics?
How will the full exercise of the underwriters' option impact the stock's liquidity and trading volatility in the near term?
16
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
