Credit: Shutterstock photoProLung, which is developing a test that predicts early-stage risk of lung cancer, announced terms for its IPO on Tuesday.
The Salt Lake City, UT-based company plans to raise $7 million by offering 0.93 million shares at a price range of $7 to $8. At the midpoint of the proposed range, ProLung would command a market value of $36 million.
Because the company's post-IPO market value is below $50 million, it will be excluded from our IPO stats
The pre-revenue company was founded in 2004 and plans to list on the Nasdaq under the symbol LUNG. Maxim Group LLC and Aegis Capital Corp. are the joint bookrunners on the deal.
The article ProLung sets terms for $7 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
