An unmet need for knees: Biotech Histogenics sets terms for $60 million IPO (OrthoSpineNews)
Histogenics, a biotech developing a therapy for repairing knee cartilage using its tissue repair platform, announced terms for its IPO on Friday. The Waltham, MA-based company plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Histogenics would command a fully diluted market value of $158 million.The deal is 58% covered, as insiders plan to purchase $20 million worth of shares on the offering while August 2013 biotech Intrexon (XON) has indicated it would invest $15 million.Founded in 2000, Histogenics plans to list on the NASDAQ under the symbol HSGX. Cowen & Company, Needham and Canaccord Genuity are the joint bookrunners on the deal. It is expected to price during the week of December 1, 2014.
Keywords / Tickers: HSGX, XON
Related Links: Upcoming IPOs
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