Vascular Solutions, Inc.
This article was originally published in The Gray Sheet
Postpones proposed $40 mil. initial public offering, citing "turbulent" market conditions. A re-evaluation is planned in January. The Minneapolis maker of the Duett vascular sealing device filed a preliminary prospectus for the offering in July with the Securities and Exchange Commission (1"The Gray Sheet" Aug. 9, p. 14)
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Vascular Solutions says it will allocate roughly $12 mil. of its upcoming $40 mil. initial public offering to establish a direct U.S. sales force over the next year to market the Duett vascular sealing device, which currently awaits FDA approval.
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