Two debuts expected

Boulder based Auddia, Biodesix expected to appear on Nasdaq this week

Two Boulder companies are expected to debut on the Nasdaq Global Market this week, with the potential to raise just more than $101.3 million combined.

Biodesix Inc., a lung cancer diagnostics firm, is expected to make its initial public offering on Wednesday and raise as much as $91.04 million, while Clip Interactive LLC is due to debut on Friday with a maximum amount of $10.35 million in proceeds, according to the exchange’s calendar of upcoming IPOS.

Biodesix first declared its intention to go public in early October, and last week set their target price range at between $17 to $19 per share. Based on the number of shares outstanding after the public offering and the conversion of other stock warrants issued as the company was raising venture capital, Biodesix estimates its market capitalization at just under $500 million.

Market capitalization, or the number of shares available in a company multiplied by its stock price, is a common indicator of how valuable investors in the stock market believe a company is.

Clip Interactive, which will convert into Auddia Inc. at the time of the IPO, is looking to raise up to $10.35 million, with its shares priced at $4.125 to the public.

If all of its public shares are purchased and warrant-holders convert their holdings into stock, the company would have just more than 10.36 million shares outstanding. That would put its highest possible market valuation at just more than $42.75 million at the time of the debut.

Auddia is developing smartphone apps that use artificial intelligence to play music over a radio station’s commercial break time in exchange for a monthly subscription fee from listeners.

The debut comes just more than nine months after it filed its S-1 documents with the U.S. Securities and Exchange Commission in January.