Key Developments: LipoScience Inc (LPDX.OQ)
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Latest Key Developments (Source: Significant Developments)
LipoScience Inc Appoints Robert Greczyn Interim President And Chief Executive Officer
LipoScience, Inc. announced that Richard Brajer has stepped down as President, Chief Executive Officer and Director to pursue other interests. Robert Greczyn has been named Interim President & Chief Executive Officer, effective immediately. The Board of Directors of LipoScience intends to initiate a search for a permanent Chief Executive Officer immediately. Full Article
LipoScience Inc Lowers FY 2013 Revenue Guidance
LipoScience Inc announced that based on a comprehensive review, the four primary factors contributing to the first quarter 2013 revenue shortfall were, the Company were unable to get the needed number of new sales representatives up and running, Direct business is converting to lab partners at a faster rate than prior years, managed care headwinds, and Vantera system placement delays. Given these factors and slow start, the Company is reducing its fiscal 2013 revenue guidance to $54 to $56 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $61 million for fiscal 2013. Full Article
LipoScience Inc Issues FY 2013 Revenue Guidance Below Analysts' Estimates
LipoScience Inc announced that for fiscal 2013, it expects total revenue to be in the range of $59.0 to $61.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $61.5 million for fiscal 2013. Full Article
LipoScience Inc Announces Closing of Initial Public Offering
LipoScience Inc announced it has closed its previously announced initial public offering of 5,000,000 shares of common stock at a price to the public of $9.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 750,000 shares from the Company. As a result, the total initial public offering size was 5,750,000 shares. LipoScience expects to receive, after deducting underwriting discounts and commissions and estimated offering expenses payable by the company, net proceeds of approximately $44.9 million from the offering. Barclays Capital Inc., UBS Securities LLC and Piper Jaffray & Co. acted as joint book-running managers for the offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on January 24, 2013. Full Article
LipoScience Inc Prices Initial Public Offering
LipoScience Inc announced the pricing of initial public offering of 5,000,000 shares of common stock at a price to the public of $9.00 per share. The shares are expected to begin trading on The NASDAQ Global Market under the ticker symbol LPDX on January 25, 2013. All of the shares are being offered by LipoScience. In addition, LipoScience has granted the underwriters a 30-day option to purchase an aggregate of up to an additional 750,000 shares at the initial public offering price, less underwriting discounts and commissions. LipoScience, Inc. expects to receive, after deducting underwriting discounts and commissions and estimated offering expenses payable by, net proceeds of approximately $38.6 million from offering and intends to use net proceeds to hire additional sales and marketing personnel and to support costs associated with increased sales and marketing activities, for capital expenditures, including components of the Vantera system, to fund research and development programs, including expansion of diagnostic test menu based on Vantera system, to pay accrued dividends in the amount of $5.2 million on shares of preferred stock that will convert into common stock upon the closing of the offering, balance for other general corporate purposes, including general and administrative expenses, working capital and potential repayment of indebtedness. Barclays Capital Inc., UBS Securities LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Full Article
LipoScience Inc Sets IPO Terms, Expects To Sell Five Million Shares At Between $13-$15-DJ
Dow Jones reported that LipoScience Inc set terms for its Initial Public Offering on January 10, 2013, the Company looking to raise as much as $75 million. The Company said in a filing with the Securities and Exchange Commission that it expects to fetch between $13 and $15 each for its five million shares. The Company said it plans to use the proceeds generated from the offering to pay dividends on convertible stock, hire sales staff and fund research and development. Barclays, UBS Investment Bank and Piper Jaffray & Co. will serve as underwriters. Full Article

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