Presbia today set the range for its forthcoming initial public offering, saying it plans to offer 4.2 million shares at $11 to $13 apiece.
At the midpoint, the IPO would fetch $50.4 million for Presbia, which makes the Flexiview Micro-Lens corneal implant to treat presbyopia.
Presbia, which makes the Flexiview Micro-Lens corneal implant to treat presbyopia, registered with the SEC for an initial public offering of up to $90 million worth of stock.
The Flexiview Micro-Lens is designed to be inserted into a pocket created in the cornea using a laser. The pocket seals itself, holding the 3mm-diameter lens in the center of the visual axis. The 10-minute procedure is reversible and does not require general anesthesia, according to Presbia’s website.