IPO News Archive
SurgiVision postpones $18 million IPO
SurgiVision, which has developed an MRI-guided device for minimally invasive brain procedures, postponed revised plans for its IPO on Monday due to poor market conditions. The Memphis, TN-based company was founded in 1998 and booked $2.6 million in sales last year. Surgivision had originally planned to offer 2.5 million shares at a range of $9-$11 before postponing the deal last month; it refiled on August 5th to raise $18 million by offering 3.7 million shares at $5 per share. Rodman & Renshaw and Newbridge Securities were set to be the lead underwriters on the deal.