Paining cats and dogs: Nexvet sets terms for $58 million IPO
Nexvet, which is developing biologics for the treatment of pain and inflammation in cats and dogs, announced terms for its IPO on Monday. The Dublin, Ireland-based company plans to raise $58 million by offering 4.0 million shares at a price range of $13 to $16. At the midpoint of the proposed range, Nexvet would command a fully diluted market value of $179 million.
A number of recent animal health IPOs have outperformed, including Aratana Therapeutics (PETX; +185%) and Zoetis (ZTS; +70%).
Nexvet, which was founded in 2010, plans to list on the NASDAQ under the symbol NVET. BofA Merrill Lynch and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of February 2, 2015.
The article Paining cats and dogs: Nexvet sets terms for $58 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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