Clearside Biomedical, which is developing a combination drug-device therapy for eye diseases, announced terms for its IPO on Wednesday.
The Alpharetta, GA-based company plans to raise $60 million by offering 4 million shares at a price range of $14 to $16. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, Clearside Biomedical would command a fully diluted market value of $260 million.
Clearside Biomedical was founded in 2011 and plans to list on the Nasdaq under the symbol CLSD. Cowen & Company and Stifel are the joint bookrunners on the deal. It is expected to price during the week of May 23, 2016.
