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Jan. 27, 2020, 7:24 a.m. EST

Beam Therapeutics to offer 6.25 million shares in planned IPO priced at $15 to $17 each

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By Ciara Linnane

BEAM

Beam Therapeutics Inc. /zigman2/quotes/216229751/composite BEAM -7.24% set terms for its planned initial public offering on Monday, saying in a regulatory filing that it plans to offer 6.25 million shares priced at $15 to $17 each. The developer of gene editing technology would raise $106.25 million at the top of that range. JPMorgan, Jefferies and Barclays are joint bookrunners on the deal with Wedbush acting as lead manager. Proceeds of the deal will be used to finance R&D, advance the company's portfolio of base editing programs and for general corporate purposes. "We are a biotechnology company committed to creating a new class of precision genetic medicines based on our proprietary base editing technology, with a vision of providing life-long cures to patients suffering from serious diseases," the company says in its prospectus. It has applied to list on Nasdaq under the ticker symbol "BEAM."

/zigman2/quotes/216229751/composite
US : U.S.: Nasdaq
$ 24.20
-1.89 -7.24%
Volume: 247,678
Feb. 24, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
N/A
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