Market News / Story
Eli Lilly-backed TRex Bio targets up to $133M in U.S. IPO
Seeking Alpha ·
Seeking Alpha reports: Anti-inflammatory drug developer TRex Bio , whose backers include Eli Lilly , disclosed additional details regarding its upcoming U.S. listing this week, seeking to raise up to $133M from a Nasdaq listing. According to an SEC filing on Monday, the San Francisco-based biotech intends to sell 8.3M shares for $14-$16 each, seeking to raise $133.3M at the top of the range, giving the company a market valuation of $439.1M. TRex Bio expects to raise roughly $128.7M in net…