908 Devices, which provides mass spectrometry devices for forensic and scientific research, announced terms for its IPO on Monday.
The Boston, MA-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. At the midpoint of the proposed range, 908 Devices would command a fully diluted market value of $463 million.
908 Devices provides handheld and desktop mass spectrometry devices that are used to interrogate unknown and invisible materials, providing actionable answers to directly address critical problems in life sciences research, bioprocessing, industrial biotech, forensics and adjacent markets.
908 Devices was founded in 2012 and booked $30 million in sales for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol MASS. Cowen, SVB Leerink, William Blair and Stifel are the joint bookrunners on the deal. It is expected to price during the week of December 14, 2020.
