Hancock Jaffe Laboratories, which is developing bioprosthetic devices for cardiovascular surgeries, announced terms for its IPO on Monday.
The Irvine, CA-based company plans to raise $13 million by offering 1.88 million shares at a price range of $6 to $8. At the midpoint of the proposed range, Hancock Jaffe Laboratories would command a market value of $62 million.
Hancock Jaffe Laboratories was founded in 1999 and booked $1 million in revenue for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol HJLI. WallachBeth Capital and Network 1 Financial Securities are the joint bookrunners on the deal. IPO timing was not disclosed.
