Editas Medicine Inc became the first company to price an initial public offering in the United States in 2016 on Tuesday, raising $94.4 million, a person familiar with the matter said.
Editas, a company that aims to treat diseases through gene editing, priced 5.9 million shares at $16, the bottom of its previously indicated range of $16 to $18, the person said, asking not to be identified because the details have not been publicly announced.
This would give Cambridge, Massachusetts-based Editas a $571 million market valuation. Its shares are scheduled to start trading on the Nasdaq exchange on Wednesday, after more than a one-month pause in U.S. IPOs due to stock market volatility.
Editas declined to comment.
(Reporting by Lauren Hirsch in New York; Editing by Bernard Orr)