1. Investment Snapshot

2. Thesis

3. Valuation & Price Target

4. Business & Product Moat

5. People & Governance

6. Market & Macro

7. Financial Quality

8. Risk Register

9. Prediction Market

10. 𝕏 Posts

Discussion

Turnstone Biologics Corp. (TSBX) IPO | IPOSignal

Sections

1. Investment Snapshot

2. Capital Structure

3. Valuation

Discussion

Inline comments

Investment Snapshot

Capital Structure

Valuation

Discussion

Turnstone Biologics Corp.

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Investment Snapshot

S-1/A All Filings

Symbol

TSBX

Event Date

2023-07-21

Sector

Health Care

Subsector

Biotechnology

Offer Range

—

Shares Offered

5.8M

Shares Outstanding Pre-IPO

3.03M

Total Shares Post-IPO

21.32M

Market Cap

—

Target Price

$00.00

Implied Upside vs Midpoint

$00.00

Description

—

Capital Structure

Post-IPO economic shares by class.

Class	Shares	% Economic
Common Stock (listed) 1 vote per share	21.32M	100.0%
Total economic shares	21.32M	100%

Not counted toward economic shares

Redeemable Convertible Preferred Stock (Series A, B-1, B-2, C, D)

Pre-conversion — already in the listed class

99.79M

Valuation

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