908 Devices increases expected pricing of IPO, to be valued at up to $493 million

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908 Devices Inc. disclosed Thursday that the expected pricing of the Massachusetts-based biochemical analysis device company’s initial public pricing has increased, as the company looks to raise up to $118.75 million. The company is offering 6.25 million shares in the IPO, which is now expected to price between $18 and $19 a share, up from previous expectations of between $15 and $17 a share. With 25.95 million shares expected to be outstanding after the IPO, the expected pricing values the company at up to $493.16 million. The stock is expected to list on the Nasdaq exchange under the ticker symbol “MASS.” Cowen, SVB Leerink, William Blair and Stifel are the underwriters. For the nine months to Sept. 30, the company reported a net loss of $2.7 million on total revenue of $21.2 million, after a loss of $13.0 million on revenue of $9.6 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 32.4% over the past three months while the S&P 500 has gained 10.3%.
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