Spring Bank Pharmaceuticals, an early-stage biotech developing targeted therapies for viral diseases, announced terms for its IPO on Wednesday.
The Milford, MA-based company plans to raise $40 million by offering 2.86 million shares at a price range of $13 to $15. Insiders intend to purchase $10 million worth of shares in the offering. At the midpoint of the proposed range, Spring Bank Pharmaceuticals would command a fully diluted market value of $132 million.
Spring Bank Pharmaceuticals was founded in 2002 and plans to list on the Nasdaq under the symbol SBPH. William Blair and Wedbush PacGrow are the joint bookrunners on the deal. It is expected to price during the week of March 14, 2016.
