NantKwest, which is developing cancer immunotherapies based on natural killer cells, raised $207 million by offering 8.3 million shares (100% primary) at $25, well above the $20-$23 range. The company offered 1.3 million more shares than originally planned. Its CEO Dr. Patrick Soon-Shiong and Franklin Templeton have indicated an interest in purchasing up to $10 million and $45 million, respectively, of the offering, while shareholder Celgene is investing $17 million in a concurrent private placement.
At its offer price, NanKwest commands a...more
Benitec Biopharma, which is developing gene therapies for hepatitis C based on RNA interference, announced terms for its IPO on Monday.
The Balmain, Australia-based company plans to raise $65 million by offering 5 million shares at a price range of $13.06 to $13.06. At the midpoint of the proposed range, Benitec Biopharma would command a fully diluted market value of $141 million.
Benitec Biopharma, which was founded in 1995, plans to list on the Nasdaq under the symbol [BNTC]. BMO Capital Markets is the sole bookrunner on the deal...more
AutoGenomics, which sells a molecular diagnostics system for genetic testing in clinical laboratories, withdrew its plans for an initial public offering on Monday.
It had first filed to go public in 2008 but withdrew its plans in 2011. It then set terms in February 2013 but withdrew the offering later that year. In February 2015, AutoGenomics planned to raise $45 million at a valuation of $126 million but postponed the offering as genetic testing firms sold off.
Genetic testing firms have been among the worst-performing IPOs of 2015, ...more
Philadelphia Energy Solutions, the Carlyle-backed owner of a crude oil refinery and rail terminal in Philadelphia, announced terms for its IPO on Monday.
The Philadelphia, PA-based company plans to raise $250 million by offering 15.2 million shares (22% insider) at a price range of $15 to $18. At the midpoint of the proposed range, Philadelphia Energy Solutions would command a fully diluted market value of $1.3 billion.
The Carlyle Group (NASDAQ: CG) owns a controlling interest in the company.
Philadelphia Energy Solutio...more