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Highlights
- HilleVax is looking to go public to generate net proceeds and fund the clinical development of the HIL-214 vaccine.
- HilleVax was formed in 2020 by private equity firm Frazier Healthcare Partners and Takeda Pharmaceutical Co.
- After the IPO, Frazier will have a stake of 22.4 per cent, and Takeda will own 18.6 per cent of HilleVax.
The Massachusetts-based biotechnology company HilleVax Inc. announced terms for its initial public offering (IPO) on Monday, April 25. HilleVax is looking to sell 10.3 million shares and has kept the range of shares between US$ 16 to US$ 18 per share.
If the shares are sold at the midpoint of that range, that is US$ 17, and the biotechnology company could raise US$ 159.1 million. Also, if the underwriters opt to buy an additional 1.54 million shares, the net proceeds could be roughly US$ 183.6 million.
Key details about Hillevax
The biotechnology company is looking to develop a vaccine to protect against norovirus infection, which is known to cause acute gastroenteritis across the world.
HilleVax is looking to go public to generate net proceeds and fund the clinical development of the HIL-214 vaccine and for general corporate purposes.
The company reportedly believes that the proceeds generated from the initial public offering and its current cash would be enough to meet the expected expenses for around two years.
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HilleVax was formed in 2020 by private equity firm Frazier Healthcare Partners and Takeda Pharmaceutical Co. After the IPO, Frazier will have a stake of 22.4 per cent, and Takeda will own 18.6 per cent.
As per the amended documents filed with the Securities and Exchange Commission (SEC), HilleVax is supposed to list on the Nasdaq Global Select Market and trades under the stock symbol HLVX.
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Bottom line
It is uncertain when the HilleVax stock will be available on the equity market. However, some reports suggest that the stock could be available for trading on April 29.
Retail investors interested in the HilleVax stock should keep a close watch on the company's website or the Nasdaq to know when the stock starts trading.
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Please note, the above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
