Guardion Health Sciences, which sells medical food and devices for retinal diseases, revised the terms for its upcoming IPO on Wednesday. Deal timing has not been determined.
The San Diego, CA-based company still plans to raise $9 million, but has changed its price to $4 from a range of $3 to $4 and has reduced the number of shares that it is offering to 2.2 million from 2.5 million. With these new terms, Guardion Health Sciences would command a fully diluted market value of $96 million up 14% from its previously proposed market value of $84 million.
Guardion Health Sciences was founded in 2009 and booked $1 million in revenue for the 12 months ended September 30, 2018. It plans to list on the NYSE under the symbol GHSI. WallachBeth Capital is the sole bookrunner on the deal.
