Caris Life Sciences Raises $494M in US IPO Above Range

Caris Life Sciences, a health-care company specializing in AI-powered molecular diagnostics for oncology, has priced its initial public offering at $21 per share, raising approximately $494 million. This pricing exceeded the company's previously marketed range of $19 to $20 per share and the earlier range of $16 to $18. The offering consists of about 23.5 million shares, with underwriters granted a 30-day option to purchase an additional 3.53 million shares. Caris Life Sciences' platform utilizes next-generation sequencing, artificial intelligence, and machine learning to provide precision medicine solutions based on a large dataset of molecular tests. The company, founded in 2008 and backed by Sixth Street Partners, generated $452 million in revenue for the 12 months ending March 31, 2025. The shares are expected to start trading on the Nasdaq under the ticker symbol CAI, with major financial firms such as BofA Securities, J.P. Morgan, and Goldman Sachs acting as lead managers for the offering.