D. Medical, a medical device company that develops and manufactures insulin pumps, lowered the proposed deal size for its upcoming IPO on Tuesday. The Israel-based company now plans to raise $21 million by offering 1.88 million shares at a price range of $10-$12 after previously filing to offer 2.73 million shares. At the mid-point of the revised range, D. Medical will raise -31% fewer proceeds than previously anticipated. D. Medical, which was founded in 1992 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol DMED. Rodman & Renshaw and ThinkEquity are the lead underwriters on the deal, which is expected to price this week.
