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Medical technology company LipoScience withdraws $75mm IPO

October 21, 2002

LipoScience, a provider of a proprietary test for assessing the risk of heart disease, withdrew its proposed $75 million offering on Monday. The Raleigh, NC based company had planned to offer 5 million shares at $14-$16 apiece on September 19, but the IPO was put on hold due to market conditions. Merrill Lynch lead managed this deal.