Inogen sets IPO terms
GOLETA, Calif. – Inogen hopes to raise $75 million in its IPO by offering 4.4 million shares—20% insider—at $16 to $18 per share, according to news reports. At the midpoint of its proposed price range, its fully diluted market value would be $342 million, Renaissance Capital reports. For the 12 months ended Sept. 30, 2013, the portable oxygen concentrator manufacturer/provider reported $70 million in sales. Inogen filed for the IPO in November. It plans to trade on the NASDAQ under the symbol INGN. J.P. Morgan is the bookrunner.