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| Lombard's Aorfix stent.--Courtesy of Lombard Medical |
Stentmaker Lombard Medical has set the range for its pending U.S. IPO, aiming to raise $60 million with the sale of 3.6 million shares priced between $15 and $18. U.K.-based Lombard makes an aortic repair device, the Aorfix stent. Founded in 2003, it plans to leave the London Stock Exchange and trade in the U.S. on the Nasdaq under the ticker "EVAR." IPO documents were first filed confidentially in January. Aorfix is an endovascular aortic repair tool designed to treat aneurysms. It won FDA approval in 2013. In 2013, Lombard lost $19.2 million on $6.9 million in revenue. A midpoint price would give Lombard a fully diluted market value of $252 million. More from Renaissance Capital | Form F-1