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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.

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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