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Medical device company Glucose Biosensor Systems files for a $25 million Reg A+ IPO

October 22, 2018
GBSG

Glucose Biosensor Systems Greater China, which is developing a salivary glucose monitoring system for diabetes in China, filed on Monday with the SEC for a best-efforts initial public offering under Regulation A+.

The New York, NY-based company plans to raise a minimum of $9 million and a maximum of $25 million by offering between 0.8 million and 2.1 million shares at a price of $12. With the max offering at the proposed price, Glucose Biosensor Systems would command a market value of $124 million.

Glucose Biosensor Systems Greater China was founded in 2016 and plans to list on the Nasdaq under the symbol GBSG. Cuttone & Co. is the sole underwriter on the deal. IPO timing was not disclosed.

As a min-max, best-efforts offering under Reg A+, we are not tracking this deal in our IPO stats.