Relypsa, which is developing treatments for renal, cardiovascular and metabolic diseases, announced terms for its IPO on Friday. The Redwood City, CA-based company plans to raise $120 million by offering 6.9 million shares at a price range of $16 to $19. At the midpoint of the proposed range, Relypsa would command a market value of $502 million.
Relypsa, which was founded in 2007, plans to list on the NASDAQ under the symbol RLYP. Relypsa initially filed confidentially on August 2, 2013. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal.
