Aquestive Therapeutics, a drug manufacturer developing oral film formulations of CNS disease therapies, announced terms for its IPO on Monday.
The Warren, NJ-based company plans to raise $60 million by offering 4 million shares at a price range of $14 to $16. Insiders intend to purchase $20 million worth of shares in the offering (33% of deal). At the midpoint of the proposed range, Aquestive Therapeutics would command a fully diluted market value of $360 million.
Aquestive Therapeutics was founded in 2004 and booked $74 million in revenuefor the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol AQST. BMO Capital Markets and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of July 23, 2018.
