10x Genomics, which makes instruments and other technology for analyzing biological information, announced terms for its IPO on Tuesday.
The Pleasanton, CA-based company plans to raise $297 million by offering 9 million shares at a price range of $31 to $35. At the midpoint of the proposed range, 10x Genomics would command a fully diluted market value of $3.5 billion.
10x Genomics was founded in 2012 and booked $197 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol TXG. J.P. Morgan, Goldman Sachs and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of September 9, 2019.
