HTG Molecular Diagnostics, which markets a diagnostic platform for complex molecular profiling, announced terms for its IPO on Tuesday.
The Tucson, AZ-based company plans to raise $50 million by offering 3.6 million shares at a price range of $13 to $15. At the midpoint of the proposed range, HTG Molecular Diagnostics would command a fully diluted market value of $100 million.
Shareholders include Novo A/S (NYSE: NVO), GlaxoSmithKline (NYSE: GSK) and Merck (NYSE: MRK). Insiders intend to invest $25 million on the offering, or half of the float at the midpoint.
Another diagnostics IPO, OpGen (OPGN), is expected to price later this week.
HTG Molecular Diagnostics, which was founded in 1997 and booked $3 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol HTGM. Leerink Partners is the sole bookrunner on the deal. It is expected to price during the week of May 4, 2015.
