(Reuters) -Molecular diagnostics firm BillionToOne said on Friday it was aiming at a valuation of up to $2.42 billion in its U.S. initial public offering.

The Menlo Park, California-based company is looking to raise up to $211.5 million in its IPO by offering 3.8 million shares priced between $49 and $55 apiece.

The offering comes amidst a rebound in U.S. IPO activity, reversing a slowdown from earlier this year, when trade-policy uncertainty curbed momentum.

Despite the U.S. government shutdown, companies can tap a provision that allows their registrations to become effective automatically, which involves setting their IPO pricing 20 days before the listing instead of finalizing it the night before.

BillionToOne develops molecular diagnostic tests — including a non-invasive prenatal s

See Full Page