Gelesis, which is developing a weight loss capsule for patients with obesity and type 2 diabetes, announced terms for its IPO on Thursday. The Boston, MA-based company plans to raise $52 million by offering 4 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Gelesis would command a fully diluted market value of $208 million.
Gelesis, which was founded in 2006, plans to list on the NASDAQ under the symbol GLSS. Gelesis initially filed confidentially on February 6, 2015. Piper Jaffray, Stifel and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of May 4, 2015.
