Semler Scientific, which sells devices that measure arterial blood flow in patients, lowered the proposed deal size for its upcoming IPO on Friday. The Portland, OR-based company now plans to raise $10 million by offering 1.2 million shares at a price range of $7.50 to $9.50. The company had previously proposed a range of $12 to $14. At the midpoint of the revised range, Semler Scientific will raise 33% fewer proceeds than previously anticipated and command a market cap of $41 million, which is below our market cap requirement of $50 million. As such, the deal has been excluded from our IPO stats.
Founded in 2007, the company plans to list on the NASDAQ under the symbol SMLR. Aegis Capital is the sole bookrunner on the deal. It is expected to price during the week of February 10, 2014.
