LipoScience lowers price range 32% to $9-$10


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LipoScience, which provides an LDL diagnostic test to assess cardiovascular disease risk, lowered the proposed price range for its upcoming IPO on Thursday. The Raleigh, NC-based company now plans to raise $48 million by offering 5 million shares at a price range of $9 to $10. The company had previously filed to sell its shares at a range of $13 to $15. At the midpoint of the revised range, LipoScience will raise 32% fewer proceeds than previously anticipated. LipoScience, which was founded in 1997 and booked $54 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol LPDX. Barclays, UBS Investment Bank and Piper Jaffray are the lead underwriters 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

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