BioAge Labs Inc., a clinical-stage biotechnology firm creating therapies for weight problems and metabolic illness, is looking for to lift as a lot as $157.5 million in its preliminary public providing and a personal placement.
The corporate is providing 7.5 million shares for $17 to $19 apiece, in accordance with a submitting Wednesday with the US Securities and Trade Fee. Individually, Sofinnova Enterprise Companions XI LP, an current shareholder, is predicted to buy about $15 million price of shares on the IPO worth in a personal placement.
On the prime of the value vary, BioAge would have a market worth of about $587 million, based mostly on the excellent shares listed within the submitting.
BioAge, based mostly in Richmond, California, had a valuation of $394 million after elevating $194 million in a Collection D spherical in February, in accordance with knowledge supplier PitchBook.
Its prime shareholders are co-founder and Chief Govt Officer Kristen Fortney, who controls 9.8% of the corporate, and entities affiliated with Andreessen Horowitz and Khosla Ventures, with 9.4% and eight% useful possession respectively, the submitting reveals.
The providing is being led by Goldman Sachs Group Inc., Morgan Stanley, Jefferies Monetary Group Inc. and Citigroup Inc. The corporate plans for its shares to commerce on the Nasdaq World Market below the image BIOA.
