Radius Health, a biotech developing treatments to restore bone density in osteoporosis patients, refiled terms for its upcoming IPO on Monday. The Cambridge, MA-based company now plans to raise $52 million by offering 6.5 million shares at $8 per share. Radius planned to offer 5 million shares at a range of $14 to $16 in May. Since then, it postponed the IPO and removed its original terms. At the revised price, it will raise 31% less in proceeds than previously anticipated and command a fully diluted market value of $233 million (down 43% from $411 million). In November 2012, Radius filed to raise $62 million at a $283 million valuation, but withdrew its IPO plans due to poor market conditions.
Radius Health, which was founded in 2003, plans to list on the NASDAQ under the symbol RDUS. Jefferies and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of June 2, 2014.
