Motus GI yesterday set the range for its pending initial public offering, which at the midpoint would fetch nearly $26 million.
Last month the Israeli company, which makes the Pure-Vu intra-colonoscopy cleaning system, registered the IPO at roughly $28.8 million. Motus GI won FDA clearance for the device in September 2016.
Yesterday Motus said it plans to float 4.25 million shares at $5 to $7 apiece, for a range of about $21.3 million to nearly $29.8 million.
The company said it plans to list on the NASDAQ exchange under the symbol “MOTS,” noting that Piper Jaffray and Oppenheimer are acting as joint bookrunners for the offering.
Eleven months ago Motus closed a $30 million private placement to back the commercial launch of its Pure-Vu colonoscopy system.