SeqLL, a Woburn-based DNA sequencing company that has flown largely under the radar since its founding in 2013, has gone public in a $13 million IPO.
The company quietly began trading on the Nasdaq on Friday under two tickers: "SQL," for its common stock, and "SQLLW," for stock warrants, which give buyers the right to purchase shares at a certain price at a later date. SeqLL sold 3.1 million units at $4.75 each, the midpoint of its range, with each unit consisting of one share of common stock and one warrant exercisable at $4.25 per share. The firm's common stock shares were up slightly by close of market Tuesday.
After a relative lull in the IPO market, SeqLL is the 20th Massachusetts-based company to hold an IPO this year. The 19th was Adagio Therapeutics (Nasdaq: ADGI), which went public in early August and whose shares are now up by 99%.
Maxim Group was the sole bookrunner on the offering.
SeqLL is behind a suite of tools that sequence DNA for life sciences companies and researchers. It was formed from the ashes of Helicos BioSciences, which developed SeqLL's first technology but went out of business in 2012. SeqLL is now working on creating additional sequencing instruments, as well as reagants for multiple industries.
Total number of VC deals in 2020, as provided by PitchBook
| Rank | Prior Rank | Firm/prior rank (*unranked in 2020)/ |
|---|---|---|
1 | 3 | General Catalyst |
2 | 4 | F-Prime Capital |
3 | 1 | Bain Capital Ventures |
