Check-Cap, which is developing an ingestible imaging capsule for detecting colorectal cancer, announced terms for its IPO on Friday. The Isfiya, Israel-based company plans to raise $13 million by offering 1.2 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Check-Cap would command a fully diluted market value of $131 million.
Check-Cap, which was founded in 2009, plans to list on the NASDAQ under the symbol CHEK. Check-Cap initially filed confidentially on 7/3/2014. Chardan Capital Markets, Maxim Group LLC and Feltl and Company are the joint bookrunners on the deal.
