Akouos, a preclinical biotech developing gene therapies for inner ear disorders, raised the proposed deal size for its upcoming IPO on Thursday.
The Boston, MA-based company now plans to raise $213 million by offering 12.5 million shares at an assumed offer price of $17. The company had previously filed to offer 8.3 million shares at a range of $14 to $16. At $17, Akouos will raise 70% more in proceeds than previously anticipated and would command a fully diluted market value of $582 million.
Akouos was founded in 2016 and plans to list on the Nasdaq under the symbol AKUS. BofA Securities, Cowen, Piper Sandler, and BTIG are the joint bookrunners on the deal. It is expected to price during the week of June 22, 2020.
