Restoration Robotics, which is commercializing a robotic device to assist doctors with hair restoration surgery, announced terms for its IPO on Monday.
The San Jose, CA-based company plans to raise $25 million by offering 3.1 million shares at a price range of $7 to $9. At the midpoint of the proposed range, Restoration Robotics would command a market value of $224 million ($237 million fully diluted).
Restoration Robotics was founded in 2002 and booked $20 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol HAIR. National Securities is the sole bookrunner on the deal. It is expected to price in early October.
