Cosmetic medical device company Lumenis is set to raise $100 million on Nasdaq. Lumenis published update details about its upcoming offering on Friday. The Yokneam-based company, which develops, manufactures and markets medical laser equipment for the surgical, ophthalmology and aesthetic markets.
The company will issue 6.25 million shares at $15-17 per share and will thus raise $93.8-106.3 million (a midpoint of $100 million) at a company valuation of $529-599 million (a midpoint of $564 million).
Goldman Sachs, Credit Suisse, Jefferies and Well Fargo are the joint underwriters on the deal.
This is not the first time that Lumenis will be traded on Nasdaq. Founded in 1991 as ESC Medical the company held an IPO on Wall Street after changing its name to Lumenis but was delisted in 2005 after being acquired by VPartners, a unit of the Viola Group, and partners.
The company has undergone a major recovery in recent years after heavy losses from 2004-2008 and several years of breaking even. In 2013, the company recorded a net profit of $17.4 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2014
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