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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