Nasal implant maker Intersect ENT is the latest in the health and biotech sector to lower its IPO targets, setting price targets to raise up to $74.8 million on Monday. It originally had expected to raise $80 million.
The Menlo Park company led by CEO Lisa Earnhardt now said it plans to sell 5 million shares in a price range of between $11 and $13, which would raise $60 million. The rest would come if it sells an over-allotment that has been set aside for underwiters of the offering.
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