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Cardiovascular disease diagnostic company CardioDx sets terms for $75 million IPO
By: Renaissance Capital
CardioDx, which sells diagnostic tests for cardiovascular
diseases, announced terms for its IPO on Monday. The Palo Alto,
CA-based company plans to raise $75 million by offering 5.0
million shares at a price range of $14 to $16. At the midpoint of
the proposed range, CardioDx would command a fully diluted market
value of $282 million.
CardioDx, which was founded in 2003 and booked $7 million in sales for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol CDX. CardioDx initially filed confidentially on July 24, 2013. BofA Merrill Lynch and Jefferies are the joint bookrunners on the deal.