Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Altus Medical: Maker of the CoolGlide aesthetic laser for hair removal and vascular lesions files $60 mil. initial public offering with the Securities and Exchange Commission Jan. 4. The Burlingame, California company values the laser hair removal market at about $1.3 bil., with the laser-installed base expected to triple over the next three years. Advantages over electrolysis include the rapid treatment of larger target areas and the ability to remove the hair structure without damaging the skin, according to the firm. Funds from the offering will be used for general corporate proceeds, with a portion potentially to be used to acquire complementary products, technologies or businesses. Altus reported revenue of $9.5 mil. in 2000...