FS Development, a blank check company formed by Foresite Capital targeting a healthcare business, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The San Francisco, CA-based company plans to raise $100 million by offering 10 million shares at a price of $10. At the proposed deal size, FS Development would command a market value of $129 million.
The company is led by CEO and President Jim Tananbaum, the founder and CEO of Foresite Capital, CFO Dennis Ryan, a Managing Director and CFO of Foresite Capital, and Vice President Michael Rome, a Managing Director at Foresite.
The San Francisco, CA-based company was founded in 2020 and plans to list on the Nasdaq under the symbol FSDC. FS Development filed confidentially on July 2, 2020. Jefferies is the sole bookrunner on the deal.
