Taysha Gene Therapies sets IPO terms, could be valued at up to $690.4 million

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Taysha Gene Therapies Inc. set terms Thursday for its initial public offering, as the Dallas-based company focused on treatments for central nervous system diseases looks to raise up to $131.6 million. The company is offering 6,578,970 shares in the IPO, which is expected to price between $18 and $20 a share. With about 34.5 million shares outstanding after the IPO, the company could be valued at up to $690.4 million. Taysha granted its underwriters, led by Goldman Sachs, Morgan Stanley and Jefferies, options to buy up to 986,842 shares to cover overallotments. The stock is expected to list on the Nasdaq exchange under the ticker symbol “TSHA.” Taysha recorded a net loss of $1.12 million on no revenue for three months ended Dec. 31, 2019. The company is going public during a busy week for IPOs, but that hasn’t reduced investors’ appetite, as the Renaissance IPO ETF has rallied 23.7% over the past three months while the S&P 500 has gained 8.7%.
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