Urovant Sciences, a late-stage biotech developing an acquired oral therapy for overactive bladder, announced terms for its IPO on Monday.
The London, United Kingdom-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. Parent Roivant Sciences intend to purchase $37.5 million worth of shares in the offering (25% of the deal). At the midpoint of the proposed range, Urovant Sciences would command a fully diluted market value of $475 million.
Urovant Sciences was founded in 2016 and plans to list on the Nasdaq under the symbol UROV. J.P. Morgan, Jefferies and Cowen are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.
