Clarus Therapeutics is seeking to raise around $60 million from an initial public offering (IPO) by selling five million shares, The Wall Street Journal reports. The U.S. maker of an oral testosterone product is planning to list its common stock on NASDAQ Global Market.
Thomas McNerney,who current holds 70.9% of Clarus, will own 51% after the offering, while HIG Ventures will own 18% from a previous 25% stake. PiperJaffray and WellsFargoSecurities have been appointed as the lead underwriters for the offering.
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