UK biotech Freeline Therapeutics Holdings PLC /zigman2/quotes/219907679/composite FRLN -1.34% set terms for its initial public offering on Monday, with plans to offer 7.35 million American Depositary Receipts priced at $16 to $18 each. The company has applied to list on Nasdaq, under the ticker "FRLN." J.P. Morgan, Morgan Stanley, Evercore and Wedbush are underwriting the deal. Proceeds will be used to fund operations through the second half of 2022. "We believe opportunities may exist from time to time to expand our current business through the acquisition or in-license of complementary product candidates or programming technologies," the company says in its prospectus. "While we have no current agreements for any specific acquisitions or in-licenses at this time, we may use a portion of the net proceeds for these purposes."