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Syncona portfolio company Gyroscope Therapeutics sets IPO price range
StockMarketWire.com
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Healthcare investor Syncona said portfolio company Gyroscope Therapeutics had set a price range for a planned initial public offering in the US, for which it had filed a registration document.
Gyroscope was a clinical-stage gene therapy company focused on treating diseases of the eye.
The registration statement disclosed an indicative pricing range of $20.00-to-$22.00 per American depository share.
Syncona said that range would represent an increase in value of its current shareholding in Gyroscope of £52 million-to-£72 million, or 7.7p-to-10.7p per Syncona share.
The proposed offering amount specified in the filing is 6,750,000 ADSs, which at the midpoint of the indicative pricing range, would result in gross proceeds to Gyroscope of about $141.8 million.
Story provided by StockMarketWire.com
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