8/102 sources · 2 publishersUpdated Oct 8, 17:12 UTC
TRex Bio announces plan to raise up to $133 million in U.S. IPO
TRex Bio, a biotech developing anti‑inflammatory drugs and backed by Eli Lilly, filed to sell shares on Nasdaq. The company intends to raise up to $133 million by offering 8.3 million shares at $14‑$16 each. Lilly will retain a 19.9% ownership stake after the offering.
Why it matters
The IPO will provide TRex Bio with capital to advance its pipeline, while increasing the public float and potentially diluting existing shareholders. Lilly’s continued 19.9% stake signals confidence and may attract investors.
Key facts
- 1TRex Bio aims to raise up to $133 million in its U.S. IPO. seekingalpha.com
- 2The company plans to sell 8.3 million shares at $14‑$16 each. tradingview.com
- 3Eli Lilly will maintain a 19.9% stake in TRex Bio after the offering. tradingview.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.