RAPT Therapeutics, a Phase 1 biotech developing therapies for cancer and inflammatory diseases, announced terms for its IPO on Monday.
The South San Francisco, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, RAPT Therapeutics would command a fully diluted market value of $351 million.
RAPT Therapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol RAPT. BofA Merrill Lynch, Wells Fargo Securities, BMO Capital Markets and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of July 29, 2019.
