Lantheus Medical Imaging said yesterday it priced its initial public offering at $6.00 per share, below its previously announced range, for total proceeds of $65 million.
The company is offering 10.8 million shares, with an underwriters over-allotment option of another 1.4 million, the North Billerica, Mass.-based company said.
Credit Suisse Securities, Jefferies, RBC Capital Markets and Wells Fargo Securities are book-runners for the offering, with Robert W. Baird & Co acting as co-manager, the company said.
Lantheus Holdings, which makes imaging agents and other diagnostic products, plans to list on the NASDAQ under the symbol LNTH.
Earlier this month, Lantheus said it hoped to bring in $75 million with the offering. The company said it planned to float nearly 7.9 million shares at a price range of $8.50 to $10.50, with an underwriter’s option for an over-allotment worth another 1.2 million shares.
Last year the company said it planned to price the offering at $12 to $15 per share, for a range of $111.1 million to $138.9 million. At the midpoint of that range, Lantheus would have commanded a fully diluted market capitalization of $370 million. But the company tabled the proposed flotation in July.