Back to main

Inogen sets terms for $75 million IPO

Posted
2/4/2014 2:25:00 PM
By: Renaissance Capital
Referenced Stocks:INGN

Inogen, which sells portable oxygen concentrators for patients suffering from chronic respiratory conditions, announced terms on Tuesday for its IPO. The Goleta, CA-based company plans to raise $75 million by offering 4.4 million shares (20% insider) at a price range of $16 to $18. At the midpoint of the proposed range, Inogen would command a fully diluted market value of $342 million.

Inogen, which was founded in 2001 and booked $70 million in sales for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol INGN. Inogen initially filed confidentially on October 16, 2013. J.P. Morgan is the sole bookrunner on the deal.