HemoSense cuts IPO price range yet again, now proposed at $6 to $8 per share

Nashville, June 22 - HemoSense Inc. has again reduced the price range on its initial public offering, with the stock now pitched at $6 to $8 per share.

On Monday, after delaying the pricing from last week, the range was lowered to $7 to $9 per share. The IPO, for 3.5 million shares, is still expected to price Thursday after the market closes, sources said.

Lazard Capital Markets, WR Hambrecht & Co. and Roth Capital Partners are underwriters.

The IPO had already been reduced to a price range narrowed to $8 to $10 a share from original plans for Dutch auction IPO at $9 to $13, according to Securities and Exchange Commission filings.

HemoSense, a San Jose, Calif.-based maker of a handheld blood coagulation monitoring systems, plans to use $12 million of proceeds for sales and marketing initiatives to support the ongoing commercialization of products, $4 million for research and development activities and $1.5 million for repayment of promissory notes held by affiliates, working capital and general corporate purposes.

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