Roka Bioscience, which develops food safety testing equipment that uses molecular diagnostics, announced terms for its IPO on Monday. The Warren, NJ-based company plans to raise $75 million by offering 5.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Roka Bioscience would command a fully diluted market value of $272 million.
Roka Bioscience, which was founded in 2009 and booked $3 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol ROKA. Roka Bioscience initially filed confidentially on January 23, 2014. BofA Merrill Lynch, Leerink Partners, Cowen & Company and Wedbush PacGrow are the joint bookrunners on the deal.
