Magenta Therapeutics announced on 6/8/2018 that it has launched an initial public offering of its common stock. Magenta is offering 6,666,667 shares of its common stock, subject to market and other conditions, and intends to grant the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of common stock. All of the shares to be sold in the proposed offering will be offered by Magenta. The initial public offering price is currently expected to be between $14.00 and $16.00 per share. Magenta has applied to list the shares on the NASDAQ Global Market under the symbol “MGTA”.
If all shares are sold in the mid range of expected offering price the total will be over $115 million. Magenta is developing bone marrow transplant related therapies. The company has development programs in patient preparation, stem cell harvesting, stem cell expansion, and post-transplant complications.
J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.