Forty Seven, which is developing monoclonal antibodies for various cancers, announced terms for its IPO on Monday.
The Menlo Park, CA-based company plans to raise $101 million by offering 6.7 million shares at a price range of $14 to $16. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Forty Seven would command a fully diluted market value of $474 million.
Forty Seven was founded in 2014 and plans to list on the Nasdaq under the symbol FTSV. Morgan Stanley and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of June 25, 2018.
