IPOs

UK-based research tool provider Abcam sets terms for $148 million US IPO

Abcam, which provides biological reagents and tools for research, drug discovery, and diagnostics, announced terms for its US IPO on Monday.

The Cambridge, United Kingdom-based company plans to raise $148 million by offering 8.9 million ADSs at $16.52, the as-converted last close of its shares on the AIM (ABC). At the proposed deal size, Abcam would command a fully diluted market value of $3.7 billion.

Abcam identifies, develops, and distributes reagents and tools for life science research. Its product offerings include a portfolio of antibodies and related protein research tools. Its customers are primarily scientists and researchers in academic institutions, research institutes, and pharmaceutical, biotechnology, and diagnostics companies. The company operates across 15 locations around the world.

Abcam was founded in 1998 and booked $336 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol ABCM. Morgan Stanley, BofA Securities and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of October 19, 2020.

The article UK-based research tool provider Abcam sets terms for $148 million US 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.

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