Samsara Vision, which makes medical implants for retinal diseases including AMD, lowered the proposed deal size for its upcoming IPO on Friday.
The Far Hills, NJ-based company now plans to raise $15 million by offering 2.5 million shares at a price range of $5 to $7. The company had previously filed to offer 4.2 million shares at the same range, but postponed in January. At the revised deal size, Samsara Vision will raise -40% less in proceeds than previously anticipated.
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.
