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July 13, 2020, 6:29 a.m. EDT

Berkeley Lights sets IPO terms, could be valued at up to $1.1 billion

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By Tomi Kilgore

Berkeley Lights Inc. /zigman2/quotes/219523329/composite BLI -10.08% has set terms of its initial public offering, in which the cell biology company looks to raise up to $133.2 million, and be valued at up to $1.10 billion. The company said it will sell 7.4 million shares in the IPO, which is expected to price between $16 and $18 a share. J.P. Morgan, Morgan Stanley and Cowen are the lead underwriters. If the underwriters exercise all the options granted to buy additional shares to cover overallotments, Berkeley Lights could raise up to $153.2 million. There will be 60.94 million shares outstanding after the IPO. The company has recorded a net loss of $8.43 million on revenue of $13.8 million over the three months ended March 31, after a loss of $4.2 million on revenue of $12.6 million in the year-ago period. The company is looking to go public at a good time for IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.87% has soared 61.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.06% has advanced 15.3%.

/zigman2/quotes/219523329/composite
US : U.S.: Nasdaq
$ 57.55
-6.45 -10.08%
Volume: 258,020
Aug. 7, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.55 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 44.48
-1.79 -3.87%
Volume: 103,994
Aug. 7, 2020 3:59p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,351.28
+2.12 +0.06%
Volume: 2.28B
Aug. 7, 2020 5:10p
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