HTG Molecular Diagnostics, which markets a diagnostic platform for complex molecular profiling, announced terms for its IPO on Tuesday.
The Tucson, AZ-based company plans to raise $50 million by offering 3.6 million shares at a price range of $13 to $15. At the midpoint of the proposed range, HTG Molecular Diagnostics would command a fully diluted market value of $100 million.
Shareholders include Novo A/S (NYSE: NVO), GlaxoSmithKline (NYSE: GSK) and Merck (NYSE: MRK). Insiders intend to invest $25 million on the offering, or half of the float at the midpoint.
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