Cue Biopharma, a preclinical biotech developing T cell immuno-oncology therapies, filed a 424B1 final prospectus with the SEC and set the price of its min-max, best efforts IPO at $7.50. That price was proposed in its previous filing, and was toward the high end of the original range of $6 to $8. In its latest filing, Cue also increased the maximum deal size to $70 million from $60 million. The company plans to begin trading once it has raised a minimum of $40 million; it has until January 13, 2018 to do so.
Cue Biopharma expects to raise between $40 million and $70 million by offering 5.3 million to 9.3 million shares. At the midpoint of the offering size, the early-stage biotech would raise $55 million at a fully diluted market value of $146 million.
Cue Biopharma plans to list on the Nasdaq under the symbol CUE. MDB Capital Group and Feltl and Company are acting as lead managers on the deal.
