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Alzheimer's biotech Axovant Sciences sets terms for $251 million IPO

Axovant Sciences, a newly-formed biotech developing a late-stage Alzheimer's therapy acquired from GSK, announced terms for its IPO on Monday.

The Hamilton, Bermuda-based company plans to raise $251 million by offering 17.9 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Axovant Sciences would command a fully diluted market value of $1.36 billion and an enterprise value of $1.13 billion.

Visium Asset Management and RA Capital Management plan to purchase $150 million worth of shares on the offering (60% of the float).

Axovant Sciences, which was formed in 2014, plans to list on the NYSE under the symbol AXON. Jefferies, Evercore Partners and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of June 8, 2015.

The article Alzheimer's biotech Axovant Sciences sets terms for $251 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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

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