Adaptive Biotechnologies, which provides genetic immunosequencing tests used to diagnose and treat diseases, announced terms for its IPO on Monday.
The Seattle, WA-based company plans to raise $200 million by offering 12.5 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Adaptive Biotechnologies would command a fully diluted market value of $2.1 billion.
Adaptive Biotechnologies was founded in 2009 and booked $59 million in revenue for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol ADPT. Goldman Sachs, J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of June 24, 2019.
