Second Sight Medical Products, which sells camera-based retinal implants that restore partial vision to the blind, launched its IPO on Thursday. The Sylmar, CA-based company plans to raise $32 million by offering 3.5 million shares at a price range of $9 to $9. At the midpoint of the proposed range, Second Sight Medical Products would command a fully diluted market value of $326 million.
Second Sight Medical Products, which was founded in 1998 and booked $2 million in sales for the 12 months ended June 30, 2014, plans to list on the NASDAQ under the symbol EYES. MDB Capital Group is the sole bookrunner on the deal. It is expected to price during the week of November 17, 2014.
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