Ellora Energy Revises IPO Terms

Ellora Energy Inc., a Boulder, Colo.-based oil and gas company, has lowered the number of shares offered in its IPO from 11.37 million to around 10.21 million. It had previously raised its offering price range from $12-$14 per share to $17-$19 per share, and is keeping the higher target.

Ellora plans to trade on the Nasdaq under ticker symbol LORA, with Merrill Lynch and Raymond James serving as co-lead underwriters. The original book-runners had been AG Edwards and Friedman Billings Ramsey.

It is a portfolio company of Yorktown Energy Partners.