HemoSense delays IPO; shares downsized, price range narrowed

Nashville, June 16 - HemoSense Inc. has pushed back its planned initial public offering to next week from this, according to market sources. WR Hambrecht & Co. is underwriter of the IPO.

The IPO had already been reduced to 2.6 million from 3.5 million shares and the price range narrowed to $8 to$10 a share from original plans for Dutch auction IPO at $9 to $13, sources said.

HemoSense, a San Jose, Calif.-based maker of a handheld blood coagulation monitoring systems, plans to use $12 million of the proceeds for sales and marketing initiatives to support the ongoing commercialization of products, $4 million for research and development activities and $1.5 million for repayment of promissory notes held by affiliates, working capital and general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.