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Forty Seven, an immuno-oncology biotech, sets terms for $101 million IPO

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Forty Seven, which is developing monoclonal antibodies for various cancers, announced terms for its IPO on Monday.

The Menlo Park, CA-based company plans to raise $101 million by offering 6.7 million shares at a price range of $14 to $16. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Forty Seven would command a fully diluted market value of $474 million.

Forty Seven was founded in 2014 and plans to list on the Nasdaq under the symbol FTSV. Morgan Stanley and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of June 25, 2018.

The article Forty Seven, an immuno-oncology biotech, sets terms for $101 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.


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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