Lombard Medical, which offers innovative stent-grafts for highly angled endovascular aortic repair, revived plans for its upcoming IPO and lowered the proposed deal size on Wednesday. The Oxfordshire, United Kingdom-based company postponed its IPO in early April but now plans to raise $55 million by offering 5.0 million shares at $11. The company had previously filed to offer 3.6 million shares at a range of $15 to $18. At the midpoint of the revised range, Lombard will raise 8% less in proceeds than previously anticipated.
Lombard Medical, which was founded in 2003 and booked $7 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol EVAR. It initially filed confidentially on January 22, 2014. Jefferies and Barclays are the joint bookrunners on the deal. It is expected to price on April 24, 2014.
