PureTech Health notes pricing of Seaport Therapeutics for Nasdaq IPO

(Alliance News) - PureTech Health PLC on Friday noted the pricing of its founded entity Seaport Therapeutics Inc for its planned initial public offering on the Nasdaq.

The Boston, Massachusetts-based biotech and pharmaceutical company said Seaport's upsized IPO is of around 14.2 million shares at a price to the public of USD18.00 per share, at the top end of the target range.

The gross proceeds to Seaport from the offering are expected to be USD254.9 million.

The shares are expected to start trading on the Nasdaq Global Select Market on Friday, with the offering anticipated to close on Monday.

PureTech shares rose 8.9% to 138.91 pence each on Friday morning in London.

By Tom Budszus, Alliance News slot editor

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