Candela Medical, which makes medical devices for aesthetic procedures, announced terms for its IPO on Tuesday.
The Marlborough, MA-based company plans to raise $250 million by offering 14.7 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Candela Medical would command a fully diluted market value of $1.7 billion.
Candela provides a broad range of medical devices for aesthetic applications including various lasers, including solid state, pulsed dye, non-ablative fractional, CO2, and picosecond, as well as intense pulsed light, radiofrequency, and microneedling devices. The company sells and markets its products directly in 18 countries, including the US, China, Japan, and Western Europe, as well as indirectly in 66 countries.
Candela Medical was founded in 2010 and booked $390 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol CDLA. BofA Securities, Goldman Sachs, Barclays, Baird, Canaccord Genuity, and Stifel are the joint bookrunners on the deal. It is expected to price during the week of October 25, 2021.
