Magenta Therapeutics, which is developing novel therapies to make stem cell transplants more effective, announced terms for its IPO on Friday.
The Cambridge, MA-based company plans to raise $100 million by offering 6.7 million shares at a price range of $14 to $16. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, Magenta Therapeutics would command a fully diluted market value of $538 million and an enterprise value of $354 million.
Magenta Therapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol MGTA. J.P. Morgan, Goldman Sachs and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of June 18, 2018.
