IPOs

Antibody biotech IGM Biosciences sets terms for $125 million IPO

IGM Biosciences, a preclinical biotech developing antibody therapies for cancer, announced terms for its IPO on Tuesday.

The Mountain View, CA-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15 to $17. At the midpoint of the proposed range, IGM Biosciences would command a fully diluted market value of $442 million.

IGM Biosciences was founded in 1993 and plans to list on the Nasdaq under the symbol IGMS. Jefferies, Piper Jaffray, Stifel and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of September 16, 2019.

Antibody biotech IGM Biosciences sets terms for $125 million IPO

Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)

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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