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Tempus AI prices US IPO at over $6 billion valuation

Reuters
·1-min read
Illustration shows Tempus logo

(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 co-founder Eric Lefkofsky and is yet to be profitable, will test investor appetite.

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Tempus sells genomics diagnostics tests across oncology and other areas - including neuropsychiatry, radiology and cardiology - to clinicians and hospital systems.

(Reporting by Angela Christy in Bengaluru; Editing by Alan Barona)