Novo-Backed MapLight Raises $258.9 Million in US IPO, Placement

MapLight Therapeutics Inc. will raise $258.9 million in an initial public offering and private placement, becoming the first company to go public via an unusual route since the US government shutdown.

The biotechnology firm developing treatments for neurological disorders sold 14.75 million shares Sunday for $17 each, according to a statement. Affiliates of funds managed by Goldman Sachs Group Inc. are also expected to buy 476,707 MapLight shares at the IPO price in a private placement, its filings with the US Securities and Exchange Commission show.

At the IPO price, the Redwood City, California-based company would have a market ...