Centogene, which provides genetic tests for rare disease diagnostics and drug development, announced terms for its IPO on Monday.
The Rostock, Germany-based company plans to raise $60 million by offering 4.0 million shares at a price range of $14 to $16. Insiders intend to purchase $30 million worth of shares in the offering (50% of the deal). At the midpoint of the proposed range, Centogene would command a market value of $298 million.
Centogene was founded in 2006 and booked $50 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol CNTG. It had been on our Private Company Watchlist since February 2019. SVB Leerink and Evercore ISI are the joint bookrunners on the deal.
