Diagnostic test maker Exagen sets terms for $50 million IPO
Exagen, which sells blood tests that can diagnose, prognose, or monitor autoimmune diseases, announced terms for its IPO on Monday.
The Vista, CA-based company plans to raise $50 million by offering 3.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Exagen would command a fully diluted market value of $190 million.
Exagen was founded in 2002 and booked $38 million in revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol XGN. Cowen, Cantor Fitzgerald, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of September 16, 2019.
The article Diagnostic test maker Exagen sets terms for $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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