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Insulin device maker Valeritas refiles terms for $60 million IPO

Valeritas Holdings, which markets a disposable device that delivers basal-bolus insulin therapy for Type 2 diabetes, announced terms for its IPO on Thursday.

The Bridgewater, NJ-based company plans to raise $60 million by offering 6.0 million shares at a price range of $9 to $11. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Valeritas Holdings would command a market value of $104 million.

Valeritas Holdings was founded in 2006 and booked $20 million in sales for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol VLRX. Cowen & Company and Wedbush PacGrow are the joint bookrunners on the deal.. It is expected to price during the week of March 20, 2017.

The article Insulin device maker Valeritas refiles terms for $60 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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