Caris Life Sciences IPO Prices Above Range to Raise $494 Million

Caris Life Sciences Inc., a health-care company that uses technology to help diagnose and treat cancer, raised $494 million in a US initial public offering that priced above the top of its marketed range.

The Sixth Street Partners-backed company sold 23.5 million shares at $21 each, according to a statement Tuesday. The medical technology firm had offered shares for $19 to $20 each, above a previous proposed range of $16 to $18, an earlier filing showed.

At the IPO price, the Irving, Texas-based firm has a market value of $5.9 billion based on the outstanding shares listed in ...