Diagnostic company LipoScience sets terms for $70 million IPO
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.
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