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Imricor Medical Systems plans A$12.1M IPO

Burnsville, Minn.-based Imricor Medical Systems Inc. is looking to raise up to a maximum of A$12.1 million via an IPO on the Australian Securities Exchange.

The medical device company is offering 13,373,494 new CHESS depositary interests, or CDIs, at 83 Australian cents apiece. Each new CDI is equivalent to one class A common share.

The IPO consists of two offerings — one for certain institutional investors in Australia, Hong Kong, Singapore and New Zealand who were invited to participate in the transaction, and another for retail investors in Australia who received firm allocations from their brokers.

Imricor's CDIs will trade under the IMR symbol on the ASX beginning Sept. 3.

Imricor designs, manufactures and commercializes magnetic resonance imaging-compatible medical devices to carry out MRI-guided cardiac catheter ablation procedures to treat arrhythmias, or abnormal heart rhythm.

Moelis Australia Advisory Pty. Ltd. is acting as financial adviser and lead manager in the IPO, with Johnson Winter & Slattery is acting as legal adviser.