By Colin Kellaher
Certara Inc. Thursday said it plans to sell about 14.6 million shares at between $19 and $22 apiece in its initial public offering.
At the $20.50 midpoint of that range, the Princeton, N.J., biotechnology company said it expects net proceeds of about $279.9 million.
Certara, which provides biosimulation software and technology used to conduct virtual trials using virtual patients to predict how drugs behave in different individuals, said current shareholders plan to sell 9.76 million shares in the offering, bringing the total size of the IPO to nearly 24.4 million shares.
Private-equity firm EQT, which currently holds a 64.6% stake in Certara, will still own a 51.8% interest after the IPO, assuming the underwriters exercise their option to buy an additional 3.66 million shares from the selling shareholders.
In a filing with the U.S. Securities and Exchange Commission, Certara said it will have roughly 152.7 million shares outstanding after the IPO, for a valuation of about $3.13 billion at the $20.50-a-share midpoint.
Certara said it expects its shares will trade on the Nasdaq Global Select Market under the symbol CERT.
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires