SurgiVision (SRGV), which has developed an MRI-guided device for minimally invasive brain procedures, plans to raise $18 million by offering 3.7 million shares at $5 per share. At the mid-point of the proposed range, SurgiVision will command a market value of $59 million.
SurgiVision, which was founded in 1998, booked $3 million in sales last year. The Memphis, TN-based company plans to list on the NASDAQ under the symbol SRGV. Rodman & Renshaw and Newbridge Securities are the lead underwriters on the deal.