The following IPOs are expected to price this week:
SurgiVision (SRGV), which has developed an MRI-guided device for minimally invasive brain procedures, plans to raise $18 million by offering 3.7 million shares at $5 per share. At the mid-point of the proposed range, SurgiVision will command a market value of $59 million. SurgiVision, which was founded in 1998, booked $3 million in sales over the last 12 months. The Memphis, TN-based company plans to list on the NASDAQ under the symbol SRGV. Rodman & Renshaw and Newbridge Securities are the lead underwriters on the deal. Surgivision previously filed to offer 2.5 million shares at $13-$15, then lowered range to $9-$11 before postponing the deal in July and refiling in August.
Whitestone REIT (WSR), an internally managed REIT with 36 commercial properties primarily in Houston, plans to raise $50 million by offering 3.3 million shares at a price range of $14-$16. At the mid-point of the proposed range, Whitestone REIT will command a market value of $130 million. Whitestone REIT, which was founded in 1998, booked $32 million in sales over the last 12 months. The Houston, TX-based company plans to list on the NYSE under the symbol WSR. Wunderlich Securities and Ladenburg Thalmann & Co. are the lead underwriters on the deal.
