Guardant Health IPO prices above expected range to value company at $1.6 billion

Guardant Health IPO prices above expected range to value company at $1.6 billion

Guardant Health Inc. GH, +0.00% said Thursday its initial public offering of 12.5 million shares priced at $19 a share, above the expected range of $15 to $17 a share, to raise $237.5 million. If the underwriters exercise all the options granted to buy additional shares, oncology company could raise up to $273.1 million. The IPO pricing values the Redwood City, Calif.-based company at $1.59 billion. The company had a net loss of $83.2 million on revenue of $49.8 million in 2017, compared with a loss of $46.1 million and revenue of $25.2 million in 2016. The stock is expected to begin trading Thursday on the Nasdaq under the ticker symbol “GH.” The company is going public at a time that the Renaissance IPO ETF IPO, +0.92% has gained 5.0% year to date and the S&P 500 SPX, +0.07% has gained 9.4%.

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