Liquid biopsy developer MDNA Life Sciences updates terms for proposed $11 million IPO

Financial term abbreviated IPO stands for Initial Public Offering on the blue block corner


MDNA Life Sciences liquid biopsy developer (MDLS) updated the proposed terms for an $11 million initial public offering.

Florida-based biotech group says in a profile that it is currently looking at offering 2.1 million shares priced between $4 and $6, would raise nearly $11 million if valued at the midpoint. Underwriters will receive a 45-day call option to purchase up to 315 thousand additional shares to cover any over-allocation.

MDNA hopes to list its shares on Nasdaq under the symbol MDLS. EF Hutton is acting as a guide.

In one Apply in AugustMDNA says it is interested in offering an undisclosed number of shares plus warrants. An attached application fee schedule said it was looking to raise about $12 million.

The company has been operating in the red. For the nine-month period ending June 30, MDNA reported a $4.7 million net loss on $1.6 million in revenue.

For more on MDNA, see Contributor Donovan Jones SA “MDNA Life Sciences Readies $10 million IPO.”


News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button