Credit: Shutterstock photoUnity Biotechnology, a preclinical biotech developing therapies for age-associated diseases, announced terms for its IPO on Monday.
The Brisbane, CA-based company plans to raise $85 million by offering 5 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Unity Biotechnology would command a fully diluted market value of $786 million.
Unity Biotechnology was founded in 2009 and booked $1 million in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol UBX. Goldman Sachs, Morgan Stanley and Citi are the joint bookrunners on the deal. It is expected to price during the week of April 30, 2018.
The article Unity Biotechnology, an osteoarthritis biotech, sets terms for $85 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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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.
