OptiNose, which is commercializing a drug-device nasal spray for chronic rhinosinusitis, announced terms for its IPO on Tuesday.
The Yardley, PA-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, OptiNose would command a fully diluted market value of $625 million.
OptiNose was founded in 2010 and plans to list on the Nasdaq under the symbol OPTN. Jefferies, Piper Jaffray, BMO Capital Markets and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of October 9, 2017.
