: : Structure Therapeutics sets IPO terms, to be valued at up to 2 million #FinanceUSA #StockMarketNEWS Structure Therapeutics Inc. has set terms for its initial public offering (IPO), as the California-based
@stockMarketNEWS Tue 31 Jan, 2023
: Structure Therapeutics sets IPO terms, to be valued at up to 2 million #FinanceUSA #StockMarketNEWS
Structure Therapeutics Inc. has set terms for its initial public offering (IPO), as the California-based biopharmaceutical company developing oral therapeutics looks to raise up to 4.25 million. The company is offering 8.95 million American depositary shares (ADS), representing 26.85 million ordinary shares, in the IPO, which is expected to price between and per ADS. With 104.39 million ordinary shares expected to be outstanding after the IPO, the expected pricing would value the company at about 1.97 million. The stock is expected to trade on the Nasdaq exchange under the ticker symbol “GPCR.” Jefferies, SVB Securities, Guggenheim Securities and BMO Capital Markets are the underwriters. The company reported a loss of .45 million and no revenue for the nine months through Sept. 30, after a loss of .69 million on no revenue over the same period a year ago. Structure is looking to go public at a time when the Renaissance IPO exchange-traded fund IPO has gained 1.9% over the past three months, while the S&P 500 SPX has advanced 4.3%.
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