Cibus, which is developing gene-editing technology for the global seed industry, announced terms for its IPO on Monday.
The San Diego, CA-based company plans to raise $100 million by offering 6.67 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Cibus would command a market value of $350 million.
Cibus was founded in 2001 and booked $3 million in product sales and collaboration revenue for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol CBUS. Morgan Stanley, BofA Merrill Lynch and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of February 11, 2019.
