Re­cur­sion lays out $300M+ goal in IPO terms; Evotec and Bris­tol My­ers team up to spin out Ger­man re­search

Re­cur­sion is near­ly ready to make its pub­lic de­but, and the biotech set out what the po­ten­tial raise might look like Mon­day.

Re­cur­sion set its IPO terms, plan­ning to raise $306 mil­lion by of­fer­ing shares in the $16 to $18 range. With 18 mil­lion shares like­ly to be of­fered, that would com­mand a mar­ket val­ue of about $3 bil­lion, ac­cord­ing to Re­nais­sance Cap­i­tal.

That’s a much high­er fig­ure than the $100 mil­lion ini­tial­ly pen­ciled in their S-1, though that num­ber has es­sen­tial­ly been a place­hold­er for many biotechs that have gone pub­lic through­out the last 12 months’ boom.

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