Ariosa Diagnostics, which provides genetic tests that determine fetal conditions and characteristics for expectant mothers, announced terms for its IPO on Thursday. The San Jose, CA-based company plans to raise $60 million by offering 3.5 million shares at a price range of $16 to $18. At the midpoint of the proposed range, it would command a fully diluted market value of $323 million.
Ariosa Diagnostics, which was founded in 2008 and booked $63 million in sales for the 12 months ended March 31, 2014, plans to list on the NASDAQ under the symbol AROS. Ariosa initially filed confidentially on December 19, 2013. J.P. Morgan and Citi are the joint bookrunners on the deal.
