Motif Bio, a late-stage biotech developing antibiotics for multi-drug resistant bacteria, announced terms for its IPO on Wednesday.
The New York, NY-based company plans to raise $35 million by offering 2.8 million shares at a price of $12.42. Insiders intend to purchase $9 million worth of shares in the offering. At the proposed price, Motif Bio would command a fully diluted market value of $110 million.
Motif Bio was founded in 2003 and plans to list on the Nasdaq under the symbol MTFB. It is expected to price during the week of August 1, 2016. SunTrust Robinson Humphrey and Ladenburg Thalmann & Co. are the joint bookrunners on the deal.
