Two biotech unicorns swell proposed IPOs, eyeing a $600M-plus windfall
We’ve been waiting for the arrival of BridgeBio’s IPO to top off the wave of new biotech offerings sweeping through Nasdaq at the end of H1. And now we learn that it’s been substantially upsized.
Initially penciled in at a unicorn-sized $225 million, the KKR-backed biotech has spiked that to the neighborhood of $300 million, looking to sell 20 million shares at $14 to $16 each. That’s an added 5 million shares, reports Renaissance Capital, which figures the proposed market valuation for Neil Kumar’s company at $1.8 billion.
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