Samsara Vision, which makes medical implants for retinal diseases including AMD, announced terms for its IPO on Tuesday.
The Far Hills, NJ-based company plans to raise $25 million by offering 4.2 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Samsara Vision would command a fully diluted market value of $153 million.
Samsara Vision is a specialty medical device company focused on the research, development, manufacturing, and marketing proprietary ophthalmic devices and technologies intended for individuals with untreatable retinal disorders, particularly Age-Related Macular Degeneration (AMD). Its current product line consists of its first-generation implantable miniature telescope (IMT), known as WA IMT; its Smaller-Incision, New Generation (SING) IMT; and its Tsert delivery system. WA IMT was approved by the FDA in 2010 and received a CE Mark in 2005. SING IMT received a CE Mark in April 2020, and the company began commercializing its SING IMT in Europe in 2021. In addition, it is in the process of establishing the regulatory pathway into the US.
Samsara Vision was founded in 2015 and plans to list on the Nasdaq under the symbol SMSA. ThinkEquity is the sole bookrunner on the deal.
