Kips Bay Medical prices downsized IPO at $8, the low end of the range

Kips Bay Medical, which offers vein support technology used in coronary artery bypass surgery, raised $17 million by offering 2.1 million shares at $8, the low end of the range of $8 to $10. The company had originally expected to sell 2.75 million shares. Kips Bay Medical plans to list on the NASDAQ under the symbol KIPS. Rodman & Renshaw and Newbridge Securities acted as lead managers on the deal.