Beam Therapeutics, a preclinical biotech developing therapies based on single-base gene editing, raised the proposed deal size for its upcoming IPO on Wednesday.
The Cambridge, MA-based company now plans to raise $148 million by offering 9.3 million shares at a price range of $15 to $17. The company had previously filed to offer 6.3 million shares at the same range. At the midpoint, Beam Therapeutics will raise 48% more in proceeds than previously anticipated to command a fully diluted market value of $830 million.
Beam Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol BEAM. J.P. Morgan, Jefferies, and Barclays are the joint bookrunners on the deal. It is still expected to price during the week of February 3, 2020.
