Guardion Health Sciences, which sells medical food and devices for retinal diseases, lowered the proposed deal size for its upcoming IPO on Wednesday.
The San Diego, CA-based company now plans to raise $6 million by offering 1.5 million shares at a price of $4, where it would command a market cap of $95 million. The company originally filed in January to raise $8.7 million by offering 2.5 million shares at a price range of $3 to $4, but amended its terms two days later to 2.2 million shares at a price of $4. It filed again in February to raise $7.5 million by offering 1.9 million shares at the same price.
Guardion Health Sciences was founded in 2009 and booked $1 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol GHSI. WallachBeth Capital and WestPark Capital are the joint bookrunners on the deal.
