Ra Medical Systems, which is commercializing excimer lasers used to treat dermatological and vascular diseases, announced terms for its IPO on Monday.
The Carlsbad, CA-based company plans to raise $50 million by offering 3.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Ra Medical Systems would command a fully diluted market value of $193 million.
Ra Medical Systems was founded in 2002 and booked $5 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol RMED. Piper Jaffray and Cantor Fitzgerald are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.
