Skadden-Led Electric SUV Maker Leads 2 IPOs Totaling $1.3B
Law360 (July 30, 2020, 7:52 PM EDT) — A Chinese electric SUV maker and a biotechnology company targeting viral diseases priced initial public offerings that exceeded $1.3 billion combined Thursday under the guidance of four law firms, exceeding their initial fundraising estimates and adding to a robust IPO market.
Vehicle maker Li Auto Inc., advised by Skadden, Arps, Slate, Meagher & Flom LLP, sold 95 million shares at $11.50 each, raising $1.09 billion. The IPO priced above its stated range of $8 to $10. Kirkland & Ellis LLP represented the underwriters.
Drug developer AlloVir Inc., advised by Goodwin Procter LLP, sold 16.25 million shares priced at $17 each, the…