Valeritas Holdings, which markets a disposable device that delivers basal-bolus insulin therapy for Type 2 diabetes, announced terms for its IPO on Thursday.
The Bridgewater, NJ-based company plans to raise $60 million by offering 6.0 million shares at a price range of $9 to $11. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Valeritas Holdings would command a market value of $104 million.
Valeritas Holdings was founded in 2006 and booked $20 million in sales for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol VLRX. Cowen & Company and Wedbush PacGrow are the joint bookrunners on the deal.. It is expected to price during the week of March 20, 2017.
