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Gelesis registers up to $60 million of stock for initial public sale
Bookrunners Piper Jaffray, Stifel and Guggenheim Securities will assist with offering
By Devika Patel
Knoxville, Tenn., April 1 – Gelesis, Inc. will price its initial public offering of common stock, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission. The company has registered up to $60 million of stock.
Piper Jaffray, Stifel and Guggenheim Securities are the bookrunning managers.
Proceeds will be used for clinical studies, preclinical and clinical development, engineering and construction of a commercial-scale manufacturing line, working capital and other general corporate purposes.
The Boston biotechnology company develops products for weight loss and to improve glycemic control. It expects its shares will trade on the Nasdaq under the symbol “GLSS.”
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