Fractyl Health Plans IPO with Expected Proceeds of $99 Million

By Colin Kellaher

Fractyl Health, a metabolic therapeutics company based in Lexington, Massachusetts, is gearing up for its initial public offering. The company plans to sell over 7.33 million shares at a price range of $14 to $16 apiece.

At the midpoint of $15, Fractyl Health anticipates net proceeds of approximately $99 million. If the underwriters exercise their option to purchase an additional 1.1 million shares, the net proceeds could reach approximately $114.3 million.

Focused on revolutionizing the treatment of metabolic diseases including type 2 diabetes and obesity, Fractyl Health believes the funds raised, in combination with its existing resources, will sufficiently cover operating expenses and capital-spending needs until 2025.

Following the completion of the IPO and assuming the overallotment option is exercised, Fractyl Health reveals it will have around 48.7 million shares outstanding. This would result in a market capitalization surpassing $730 million at the midpoint pricing.

Fractyl Health has filed an application to list its shares on the Nasdaq Global Market under the ticker symbol GUTS.