2d illustrations and photos Tempus AI ( TEM ), a developer of AI-based oncology diagnostic products, has set terms for a proposed $400M initial public offering. In its latest SEC filing, Tempus said it plans to offer 11.1M shares priced between $35 and $37 per share, which would raise around $400M if priced at the midpoint.
Underwriters would be granted a 30-day option to buy up to 1.7M additional shares to cover any over-allotments. Morgan Stanley, J.
P. Morgan and Allen & Company are serving as lead bookrunners on the deal. Tempus hopes to list its shares on Nasdaq under the symbol TEM.
After the offering, Tempus founder, CEO and Chairman Eric Lefkofsky will hold approximately 65% of the stock’s voting power, according to the filing . Tempus has been operating in the red. For the year 2023, the company reported a net loss of $214M on revenue of $532M.
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