MAKO Surgical originally filed to come public back in September 2007. It filed to sell up to $86.25 million in securities. Recently it had indicated a price range of $14 to $16 per share for a 5.1 million share IPO. Apparently market conditions won’t support anywhere close to that.
The new price target range for this IPO is $10 to $11 per share for this IPO. The company makes advanced devices for minimally invasive knee surgeries. It is also a revenue generating company, and frankly is in a sector that should have supported a normal IPO.
We still show that JPMorgan, Morgan Stanley, Cowen & Co. and Wachovia are the underwriters for this and the ticker will still be “MAKO” on NASDAQ.
If you have followed our IPO index here internally you will note how many withdrawals have happened in IPO’s of late.
Jon C. Ogg
February 14, 2008