Metagenomi latest evidence of encouraging IPO trend

6 February 2024

US gene editing company Metagenomi hopes to raise around $87 million through an initial public offering (IPO).

The Californian firm - backed by biotech major Moderna (Nasdaq: MRNA) - is seeking to sell 6.25 million shares priced between $15 and $17 apiece.

If the final share price falls in the middle of this range, the raise would bring in $86.9 million in gross proceeds - rising to $100.9 million if underwriters take up their 30-day option to buy an additional 937,500 shares.

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