LipoScience, which provides an LDL diagnostic test to assess cardiovascular disease risk, lowered the proposed price range for its upcoming IPO on Thursday. The Raleigh, NC-based company now plans to raise $48 million by offering 5 million shares at a price range of $9 to $10. The company had previously filed to sell its shares at a range of $13 to $15. At the midpoint of the revised range, LipoScience will raise 32% fewer proceeds than previously anticipated. LipoScience, which was founded in 1997 and booked $54 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol LPDX. Barclays, UBS Investment Bank and Piper Jaffray are the lead underwriters on the deal.
