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Tempus AI Prices IPO at $37 per Share, Raises $410.7 Million from 11.1 Million Shares, Valued at $6.1 Billion
Jun 13, 2024, 11:25 PM
Tempus AI, Inc., a precision medicine company that uses AI to process medical data, has successfully priced its initial public offering (IPO) at $37 per share, the top of its marketed range. The company raised $410.7 million through the sale of 11.1 million shares, a full size deal. This pricing reflects a 38% cut from its valuation peak, a challenging outcome for early investors like Google who bought in at higher valuations. The IPO gives Tempus AI a market value of $6.1 billion. The shares are set to debut on Friday.
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