Alamar Biosciences Inc. has indicated to investors that its initial public offering may price at the top of, or even above, the range it marketed, Bloomberg reported on Thursday. The diagnostics company has attracted significant investor interest, with demand reported at more than 10 times the number of shares available.
The company is looking to sell approximately 9.375 million shares, with an indicated price range of $15 to $17 per share. At the upper end of that range the offering would generate just over $159 million in gross proceeds. The reported oversubscription reflects notable participation from long-only investors and funds focused on health-care opportunities.
Shares are scheduled to begin trading on the Nasdaq Global Select Market on Friday under the symbol ALMR. The underwriting group for the transaction includes a mix of large and specialist banks: JPMorgan Chase & Co., Bank of America Corp., Toronto-Dominion Bank, Leerink Partners and Stifel Financial Corp.
Below are the key numeric and logistical details provided in the report:
- Offered shares: ~9.375 million
- Price range: $15 to $17 per share
- Potential proceeds at top of range: just over $159 million
- Reported demand: more than 10 times available shares
- Trading venue and symbol: Nasdaq Global Select Market, ALMR
- Underwriters: JPMorgan Chase & Co.; Bank of America Corp.; Toronto-Dominion Bank; Leerink Partners; Stifel Financial Corp.
The Bloomberg report frames the offering as drawing concentrated interest from investors with a longer-term, buy-and-hold orientation alongside managers dedicated to health-care sector exposure. The company’s guidance that pricing could settle at the top or above the marketed range is presented as an expectation rather than a definitive outcome.
As reported, the demand figure and the banker lineup signal robust institutional interest ahead of the public debut. The final pricing and allocation will determine the exact proceeds and the distribution of shares among investor categories when the deal is completed.