Sixth Street-backed Caris Life Sciences targets $5.3 billion valuation in US IPO
(Reuters) -Cancer diagnostic firm Caris Life Sciences said on Monday it is targeting a valuation of up to $5.35 billion in its initial public offering in the United States.
Irving, Texas-based Caris plans to raise up to $424 million by offering 23.5 million shares priced between $16 and $18 apiece.
The IPO market is heating up as high-profile companies move ahead with their stock market listings in a calmer period after tariff-related volatility stifled deal activity earlier this year.
In 2021, Caris raised $830 million at a $7.83 billion valuation in a funding round led by investment firm Sixth Street.
Caris will trade on the Nasdaq under the symbol "CAI."
BofA Securities, J.P. Morgan, Goldman Sachs, and Citigroup are the lead underwriters for the offering.
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Trading Day-London calling, stocks crawling higher
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"The choice to fight an opponent should be conditioned on a clear-headed view of its strengths and weaknesses. The U.S. has done a marvelous job of (once again) deluding itself on this front," Suttle added. Still, divisions between the two countries and the threat to global supply chains are proving no barrier to rising stock markets. Japan's Nikkei and the MSCI emerging and Asia ex-Japan indexes rose around 1%, Hong Kong-listed tech stocks rose nearly 3%, and Wall Street closed in the green. Meanwhile, the dollar's trend this year of declining despite U.S. stocks and bonds rising was on full display on Monday. Wall Street closed slightly higher and Treasury yields fell as much as 5 basis points at the short end of the curve, yet the dollar slipped. Many analysts say one of the main reasons for this is non-U.S. investor hedging - more on that below. 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Democratic FTC commissioner Bedoya says he will step down
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