DariaRen
Bioengineered heart developer Biolife4D (SAVU) has added terms to a proposed $15M initial public offering.
The biotech firm said in a filing that it is planning to offer 2.4M units priced between $5.20 and $7.20, which would raise around $15M if priced at the midpoint. Each unit would consist of one share plus two warrants to buy one share apiece at $5.95 per share, if the units are priced at $6.20 per unit. The warrant exercise price would be subject to certain adjustments 90 days after issuance.
Underwriters would be given a 45-day option to buy up to 363K additional shares and/or up to 726K additional warrants. Aegis Capital is serving as lead bookrunner. Biolife4D hopes to list its shares on Nasdaq under the symbol SAVU.
Based in Illinois, Biolife4D has been using 3D bioprinting technology to develop viable human hearts that could be used for research or possible transplantation. The company is currently developing a functional “mini-heart” that could be used for cardiotoxicity studies.
In June, Biolife4D said that it was looking to raise around $17M, but didn’t disclosed details on the deal.
Image and article originally from seekingalpha.com. Read the original article here.