Wellgistics Health (fka Danam Health), a pharmaceutical wholesaler focused on independent pharmacies, announced terms for its IPO on Friday.
The Tampa, FL-based company plans to raise $4.5 million by offering 0.9 million shares at a price range of $4.50 to $5.50. At the midpoint of the proposed range, Wellgistics Health would command a market value of $260 million. The IPO float is just 1.7% of basic shares outstanding.
Because the company plans to raise less than $5 million, Wellgistics Health will be excluded from Renaissance Capital's 2024 IPO stats.
Wellgistics Health was founded in 2022 and plans to list on the Nasdaq under the symbol WGRX. Craft Capital Management and D. Boral Capital are the joint bookrunners on the deal.
