Diagnostic company LipoScience sets terms for $70 million IPO

By Renaissance Capital,

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LipoScience, which provides an LDL diagnostic test to assess cardiovascular disease risk, announced terms for its IPO on Thursday. The Raleigh, NC-based company plans to raise $70 million by offering 5 million shares at a price range of $13 to $15. At the midpoint of the proposed range, LipoScience would command a fully diluted market value of $194 million. LipoScience, which was founded in 1997 and booked $54 million in sales for the 12 months ended September 30, 2012, plans to list on the NASDAQ under the symbol LPDX. Barclays, UBS Investment Bank and Piper Jaffray are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: LPDX

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