Presbia, which sells surgically implanted lenses to correct age-related vision loss, announced terms for its IPO on Thursday. The Dublin, Ireland-based company plans to raise $50 million by offering 4.2 million shares at a price range of $11 to $13. At the midpoint of the proposed range, it would command a market value of $160 million.
Presbia targets the vision disorder presbyopia, the inability to focus on close objects that affects about 1.8 billion people worldwide. Alternatives include glasses, contacts, LASIK and other intraocular lenses.
Presbia, which was founded in 2007 and booked $169,000 in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol LENS. Jefferies is the sole bookrunner on the deal. It is expected to price during the week of January 26, 2015.
