Harvard Apparatus sets terms for $19 million IPO

Harvard Apparatus Regenerative Technology, a regenerative medicine company that developed a synthetic replacement trachea, announced terms for its IPO on Wednesday. The Holliston, MA-based company plans to raise $19 million by offering 1.7 million shares at a price range of $10 to $12. The company proposed a $20 million deal size in its initial filing in December 2012.

At the midpoint of the proposed range, Harvard Apparatus Regenerative Technology would command a fully diluted market value of $110 million. The company, which was founded in 2009 and is yet to generate revenue, plans to list on the NASDAQ under the symbol HART. Its parent company, Harvard Bioscience, will have a 83% stake after the offering. Summer Street Research Partners was the sole bookrunner on the deal, but the latest filing added Maxim Group as an underwriter.

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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