Fluidigm to offer 5.3 Mn shares at $14 to $16
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Bangalore: Biotech firm Fluidigm announced terms for its upcoming initial public offering (IPO). A South San Francisco-based developer of integrated fluidic circuit systems that enable sophisticated biochemical measurements on nanoliter-scale liquid samples, the company plans to offer 5.3 million shares at a proposed range of $14-$16. Founded in 1999, Fluidigm has 131 employees and had revenue of about $7 million and a net loss of $25 million in 2007. The company plans to use the net proceeds from the offering, in part, to commercialize its products, continue research and development, and expand its facilities and sales force. Morgan Stanley is the lead underwriter on the deal, which is expected to price during the week of Sept. 15. Fluidigm plans to list on the Nasdaq under the ticker symbol FLDM.

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