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July 8, 2021, 6:38 a.m. EDT

Sight Sciences sets terms for IPO, to raise up to $160.5 million

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By Tomi Kilgore

Sight Sciences Inc. /zigman2/quotes/227983089/composite SGHT -2.79% has set terms of its initial public offering, which could value the California-based ophthalmology and optometry company at up to $971.7 million. The company is looking to raise up to $160.54 million, as it is offering 6.98 million shares in the IPO, which is expected to price between $20 and $23 a share. The company plans to use the proceeds from the IPO to fund clinical trials for OMNI and TearCare, for sales and marketing of its products and for research and development. The stock is expected to list on the Nasdaq under the ticker symbol "SGHT." Morgan Stanley and BofA Securities are the lead underwriters. The company reported a first-quarter net loss of $12.2 million on revenue of $8.6 million, after a loss of $9.2 million on revenue of $6.5 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.85% has slipped 0.8% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% has gained 6.4%.

/zigman2/quotes/227983089/composite
US : U.S.: Nasdaq
$ 20.90
-0.60 -2.79%
Volume: 210,216
Dec. 3, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$988.73 million
Rev. per Employee
$203,235
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 57.41
-2.30 -3.85%
Volume: 161,171
Dec. 3, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,538.43
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
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