Beta Bionics raises $204 mln in upsized US IPO

Smithfield Foods

30/01/2025 04:07

Jan 29 (Reuters) - Insulin delivery device maker Beta
Bionics said on Wednesday it raised $204 million in its initial
public offering (IPO) at a valuation of about $700 million.
    The U.S.-based company said it priced its IPO at $17 per
share, the upper-end of its forecasted range of $16 to $17 per
share.
    The size of the offering was raised to 12 million shares
from 10 million shares, the company said.
    Beta bucks the recent trend where major IPO candidates such
as LNG exporter Venture Global  VG.N  and pork producer
Smithfield Foods  SFD.O  had to lower their valuation targets.
    Beta's shares will start trading on the Nasdaq under the
symbol "BBNX" on Thursday.
    BofA Securities, Piper Sandler, Leerink Partners, Stifel and
Lake Street are the underwriters for the offering.

 (Reporting by Kritika Singh in Bengaluru; Editing by Savio
D'Souza)
 ((Kritika.Singh@thomsonreuters.com;))