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Mitochondrial dysfunction biotech Stealth BioTherapeutics sets terms for $81 million IPO


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Stealth BioTherapeutics, a Phase 3 biotech focused on mitochondrial dysfunction, announced terms for its IPO on Wednesday.

The Newton, MA-based company plans to raise $81 million by offering 6.2 million ADSs at a price range of $12 to $14. Insiders intend to purchase $60 million worth of ADSs in the offering (74% of the deal).
At the midpoint of the proposed range, Stealth BioTherapeutics would command a fully diluted market value of $430 million.

Stealth BioTherapeutics was founded in 2006 and plans to list on the Nasdaq under the symbol MITO. Jefferies, Evercore ISI and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of February 11, 2019.

The article Mitochondrial dysfunction biotech Stealth BioTherapeutics sets terms for $81 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: News Headlines , IPOs



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