Corindus Vascular Robotics, which sells robotic systems that aid stent placement during coronary angioplasties, announced terms for its IPO on Tuesday. The Waltham, MA-based company plans to offer 11 million shares. Assuming the company prices at $4.25 (its last closing price on the OTC), Corindus Vascular Robotics would raise $47 million and command a fully diluted market value of $545 million.
Corindus Vascular Robotics, which was founded in 2011 and booked $3 million in sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol CVRS. Cowen & Company and Stifel are the joint bookrunners on the deal.
