ZELTIQ Aesthetics, a medical device maker that has developed the CoolSculpting system to reduce stubborn fat bulges, announced terms for its IPO on Friday. The Pleasanton, CA-based company plans to raise $105 million by offering 7 million shares at a price range of $14.00 to $16.00. At the mid-point of the proposed range, ZELTIQ Aesthetics will command a market value of $534 million. ZELTIQ Aesthetics, which was founded in 2005 and booked $50 million in sales for the 12 months ended June 30, 2011, plans to list on the NASDAQ under the symbol ZLTQ. J.P. Morgan and Goldman Sachs are the lead underwriters on the deal, which is expected to price during the week of October 17.
ZELTIQ Aesthetics is the second deal to be added to the IPO calendar this week, following telecommunications equipment company Ubiquiti Networks which filed terms on Tuesday, October 4th. Both deals are expected to price within the next two weeks.
