Wednesday, March 19, 2008
CardioNet Prices IPO
San Diego-based CardioNet said Wednesday afternoon that it has priced the firm's initial public offering. The company said it will offer 4.5 million shares of its common stock at $18.00 per share. 1.5 million shares of the offering will come from Guidant Investment Corporation. The IPO is being underwritten by Citigroup Global Markets, Lehman Brothers, Leerink Swann, and Thomas Weisel Partners. CardioNet develops outpatient cardiac monitoring devices. CardioNet is backed by Boston Scientific, Sanderling Ventures, H&Q, BioFrontier, IngleWood Ventures, Foundation Medical Partners, and others. CardioNet will list on the Nasdaq Global Market as BEAT.