New Issue: LeMaitre raises $38.5 million in downsized IPO of 5.5 million shares at $7 each

By Ronda Fears

Memphis, Oct. 19 - Medical devices concern LeMaitre Vascular, Inc. raised $38.5 million from its downsized initial public offering of 5.5 million shares at $7 each - below the proposed range of $8 to $10 per share - via bookrunner Goldman, Sachs & Co.

The IPO had been proposed at 6 million shares priced between $8 and $10 per share.

Burlington, Mass.-based LeMaitre has earmarked proceeds to repay a portion of outstanding debt and for working capital, including hiring additional sales staff, funding clinical studies and expanding manufacturing and research and development capabilities. The company develops medical devices for vascular disease, such as stents.

Issuer:	LeMaitre Vascular, Inc.
Issue:	Initial public offering
Gross proceeds:	$38.5 million
Net proceeds:	$33 million
Shares:	5.5 million, reduced from 6 million
Greenshoe:	825,000 shares
Price:	$7 per share
Price talk:	$8 to $10 per share
Bookrunner:	Goldman, Sachs & Co.
Co-managers:	CIBC World Markets, Cowen & Co. and Thomas Weisel Partners LLC
Pricing date:	Oct. 18
Settlement date:	Oct. 24
Stock symbol:	Nasdaq: LMAT

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