Thermage Prices Low


Thermage Inc., a Hayward, Calif.-based maker of medical devices for the non-invasive treatment of wrinkles, priced six million common shares at $7 per share, for an IPO take of approximately $42 million. It originally planned to price the shares at between $11 and $13, but later lowered its forecast to between $8 and $9. It will trade on the Nasdaq under ticker symbol THRM, while Merrill Lynch served as lead underwriter. Thermage had raised around $48 million in VC funding since its 2001 inception, from firms like Draper Fisher Jurvetson, Essex Woodlands Health Ventures, Institutional Venture Partners, Morgenthaler Venture Partners and Technology Partners. www.thermage.com