Berkeley Lights Inc. has set terms of its initial public offering, in which the cell biology company looks to raise up to $133.2 million, and be valued at up to $1.10 billion. The company said it will sell 7.4 million shares in the IPO, which is expected to price between $16 and $18 a share. J.P. Morgan, Morgan Stanley and Cowen are the lead underwriters. If the underwriters exercise all the options granted to buy additional shares to cover overallotments, Berkeley Lights could raise up to $153.2 million. There will be 60.94 million shares outstanding after the IPO. The company has recorded a net loss of $8.43 million on revenue of $13.8 million over the three months ended March 31, after a loss of $4.2 million on revenue of $12.6 million in the year-ago period. The company is looking to go public at a good time for IPOs, as the Renaissance IPO ETF has soared 61.7% over the past three months while the S&P 500 has advanced 15.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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