Caris Life Sciences, a company specialising in developing personalised therapies using artificial intelligence technology, has announced plans to launch an initial public offering of approximately $365m.
The company says it plans to offer more than 23.5 million shares at prices ranging from $16 to $18 per paper. If the underwriters exercise an option to purchase an additional 3.53 million shares, the total amount raised will reach about $420.4 million.
Caris’ market capitalisation could exceed $5.4bn.
Caris Life Sciences is developing an AI-enabled personalised treatment platform specialising in oncology. The company’s shares are expected to trade on the NASDAQ Global Select Market under the ticker CAI.