MAKO Surgical Cuts IPO Range

MAKO Surgical Corp., a Ft. Lauderdale, Fla.-based developer of robotic solutions and implants for minimally-invasive orthopedic knee procedures, has cut its IPO price range from $14-$16 per share to $10-$11 per share. It still plans to offer 5.1 million common shares, and trade on the Nasdaq under ticker symbol MAKO. JPMorgan and Morgan Stanley are serving as co-lead underwriters.

MAKO had raised $50 million in total VC funding, including a $30 million round last year. Shareholders include MK Investment Co. (13.4% pre-IPO stake), MDS Health Ventures (12.68%), Tudor Ventures (11.12%), MDS Health Ventures (12.68%), Sycamore Ventures (10.54%) Appaloosa Ventures (6.84%), Highbridge Capital (6.02%) and Aperture Venture Partners (5.96%), Ziegler Meditech Equity Partners, Ivy Healthcare Capital and The Exxel Group.