New Issue: ev3 prices $164.71 million IPO at $14, below range of $16-$18

Nashville, June 16 - ev3 Inc. sold 11.765 million shares at $14 each in its initial public offering, discounted from the proposed price range of $16 to $18.

The offering, via joint bookrunners Piper Jaffray and Banc of America Securities, raised $164.71 million.

The Plymouth, Minn.-based maker of stents and other endovascular surgical products plans to use $75 million of proceeds to repay $30.3 million of demand notes plus $44.7 million of accrued and unpaid interest held by Warburg Pincus Equity Partners LP and The Vertical Group LP, which collectively owned 90% of ev3 shares prior to the IPO, and the remainder for general corporate purposes.

Issuer:	ev3 Inc.
Issue:	11.765 million shares
Bookrunners:	Piper Jaffray and Banc of America Securities
Co-managers:	Bear Stearns & Co. Inc. and Thomas Weisel Partners
Proceeds:	$164.71 million
Greenshoe:	1,764,750 shares
Price:	$14 per share
Price range:	$16 to $18
Pricing date:	June 15
Symbol:	EVVV

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