Schrödinger, which provides a software platform for life sciences and materials research, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Schrödinger would command a fully diluted market value of $950 million.
Schrödinger was founded in 1990 and booked $77 million in revenue for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol SDGR. Morgan Stanley, BofA Securities, Jefferies, and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of February 3, 2020.
