Light of life: Invuity sets terms for $60 million IPO

Invuity, which markets enhanced surgical illumination devices, announced terms for its IPO on Monday.

The San Francisco, CA-based company plans to raise $60 million by offering 4 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Invuity would command a fully diluted market value of $207 million and an enterprise value of $144 million.

Invuity, which was founded in 2004 and booked $15 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol IVTY. Piper Jaffray, Leerink Partners and Stifel are the joint bookrunners on the deal. It is expected to price during the week of June 8, 2015.