(Reuters) – Tempus AI is targeting a valuation of up to $6.10 billion in its initial public offering in the United States, the genetics testing company said on Wednesday.
The company has incurred significant losses since its inception and is yet to achieve profitability, which will test investor appetite for an IPO.
Tempus, led by e-commerce marketplace Groupon co-founder Eric Lefkofsky, is aiming to raise as much as $410.7 million by selling 11.1 million shares at a price range of $35 to $37 each.
It will list on the Nasdaq Global Select Market under the symbol “TEM”.
Morgan Stanley, J.P. Morgan Securities and Allen & Company are the lead underwriters for the offering.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Krishna Chandra Eluri)
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