Trevi Therapeutics, which is developing an extended-release version of an opioid for various new indications, announced terms for its IPO on Monday.
The New Haven, CT-based company plans to raise $70 million by offering 4.67 million shares at a price range of $14 to $16. Insiders intend to purchase $28 million worth of shares in the offering (40% of the deal). At the midpoint of the proposed range, Trevi Therapeutics would command a fully diluted market value of $243 million.
Trevi Therapeutics was founded in 2011 and plans to list on the Nasdaq under the symbol TRVI. SVB Leerink, Stifel and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of April 29, 2019.
