Benzinga | Sep 23, 2021 06:25AM EDT

Thorne HealthTech To Raise $70M Via IPO At $10/Share

* Thorne HealthTech Inc (NASDAQ:THRN) has priced its initial public offering (IPO) of 7 million shares of its common stock at $10.00 per share.

* The company had estimated the IPO price to be $10 - $11 per share.

* Thorne HealthTech has granted the underwriters a 30-day option to purchase up to an additional 1 million shares.

* The gross proceeds from the offering are expected to be $70.0 million.

* The company's shares will begin trading on the Nasdaq Global Select Market on September 23, 2021, under the ticker symbol "THRN."

* The offering is expected to close on September 27, 2021.