New Issue: Thermage raises $42 million in IPO of 6 million shares at $7 each - below reduced guidance

By Ronda Fears

Memphis, Nov. 10 - Thermage, Inc. raised $42 million from its initial public offering of 6 million shares at $7 each - below lowered price talk of $8 to $9 per share, which was cut from $11 to $13 - via lead manager Merrill Lynch & Co.

Hayward, Calif.-based Thermage has developed ThermaCool, a non-invasive treatment of wrinkles approved for commercial sales. Proceeds are slated for marketing, research and to repay its working capital line of credit.

Issuer:	Thermage, Inc.
Issue:	Initial public offering
Gross proceeds:	$42 million
Shares:	6 million
Greenshoe:	900,000 shares
Price:	$7 per share
Price talk:	Revised: $8 to $9 per share
	Original: $11 to $13 per share
Bookrunner:	Merrill Lynch & Co.
Co-managers:	Thomas Weisel Partners LLC, Wachovia Securities, C. E. Unterberg, Towbin and Maxim Group LLC
Pricing date:	Nov. 9
Settlement date:	Nov. 15
Stock symbol:	Nasdaq: THRM

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