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Tempus AI prices US IPO at over $6 bln valuation
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Tempus AI prices US IPO at over $6 bln valuation
Jun 13, 2024 4:49 PM

June 13 (Reuters) -

SoftBank Group-backed Tempus AI set the pricing of

its U.S. initial public offering at $37 per share on Thursday,

aiming to raise $410.7 million.

The genetics-testing company priced its IPO at the

higher end of is targeted range of $35 to $37, valuing the firm

at about $6.10 billion, based on the outstanding shares listed

in its filing with the U.S. Securities and Exchange Commission.

Tempus AI's shares are expected to start trading on

Nasdaq Global Select Market on Friday.

The listing of the company, which is led by e-commerce

marketplace Groupon ( GRPN ) co-founder Eric Lefkofsky and is

yet to be profitable, will test investor appetite.

Tempus sells genomics diagnostics tests across oncology

and other areas - including neuropsychiatry, radiology and

cardiology - to clinicians and hospital systems.

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