ACell Inc. set terms of its initial public offering, in which the Maryland-based regenerative medicine company focused on severe wounds treatment looks to raise up to $80 million and be valued at up to $362.8 million. The company is selling 5 million shares in the IPO, which is expected to price between $14 and $16 a share. There will be 22.68 million shares outstanding after the IPO. UBS, Barclays, RBC Capital Market and SunTrust Robinson Humphrey are the lead underwriters. The recorded a net loss of $2.7 million on revenue of $23.68 million over the three months ended March 31, after net income of $66,000 on revenue of $24.15 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF (PSE:IPO) has soared 61.7% over the past three months while the S&P 500 (S&P:SPX) has advanced 15.3%.
July 13, 2020, 6:41 a.m. EDT