Biotechnology Company Tempus AI Announces IPO Pricing

The AI-enabled precision medicine company began trading on the Nasdaq Global Select Market on June 14.

Published on Jun. 14, 2024
Biotechnology Company Tempus AI Announces IPO Pricing
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Tempus AI, a company specializing in precision medicine technology, officially set the price for its initial public offering at $37 per share. The company sold 11.1 million shares of its Class A common stock to raise gross proceeds of approximately $410.7 million. 

The shares began trading on the Nasdaq Global Select Market under the ticker symbol “TEM” on June 14. The IPO is expected to close on June 17. At its IPO price, Tempus has a market value of $6.1 billion, according to reporting by Bloomberg. Leading the offering are Morgan Stanley, J.P. Morgan and Allen & Company LLC as lead book-running managers.

Tempus operates one of the world’s largest libraries of multimodal data, providing AI-enabled precision medicine solutions to physicians for personalized patient care and supporting the discovery, development and delivery of optimal therapeutics. Its platform connects lab results to patient clinical data and serves more than 7,000 physicians across hundreds of provider networks.

This article was written by Writer, a generative AI tool, using information from press releases and company blogs provided by our staff. All content was reviewed by a Built In editor and went through a fact-checking process to ensure accuracy. Errors can be reported to our team at [email protected].

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