Obagi Medical Prices IPO

Long Beach-based Obagi Medical Products, a pharmaceutical firm focused on skincare, said today that it has priced its IPO on the NASDAQ. Obagi is offering 5,350,000 shares at a price of $11.00 per share, and is looking to raised up to $38.4M in the offering. The IPO is being underwritten by J.P. Morgan Securities, CIBC World Markets, Thomas Weisel Partners, and Robert W. Baird & Co.