Gelesis to price its IPO of 4 million shares between $12.00 and $14.00

Bookrunners Piper Jaffray, Stifel and Guggenheim Securities to assist

By Devika Patel

Knoxville, Tenn., April 23 – Gelesis, Inc. will sell 4 million common shares in its initial public offering with a 30-day greenshoe option of 600,000 additional shares, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company has registered up to $64.4 million of stock for the deal, which was announced on April 1.

The shares will be sold at a price expected to fall between $12.00 and $14.00 per share.

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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