Frequency Therapeutics, a Phase 2 biotech developing therapies for degenerative diseases, announced terms for its IPO on Monday.
The Woburn, MA-based company plans to raise $101 million by offering 6.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Frequency Therapeutics would command a fully diluted market value of $526 million.
Frequency Therapeutics was founded in 2014 and plans to list on the Nasdaq under the symbol FREQ. J.P. Morgan, Goldman Sachs, and Cowen are the joint bookrunners on the deal. It is expected to price during the week of September 30, 2019.
