BeyondSpring, which is developing a cancer therapy to combat the loss of white blood cells, announced terms for a $10 million IPO and $51 million concurrent private placement on Tuesday. The company originally filed for a $100 million offering in November 2016.
The New York, NY-based company plans to raise $10 million by offering 0.5 million shares at a price range of $20 to $22. At the midpoint of the proposed range, BeyondSpring would command a fully diluted market value of $459 million.
BeyondSpring was founded in 2014 and has not booked any sales to date. It plans to list on the Nasdaq under the symbol BYSI. Rodman & Renshaw is the sole bookrunner on the deal.
