Reliant Tech Postpones IPO

Reliant Technologies Inc., a Mountain View, Calif.-based manufacturer of medical laser technologies for aesthetic applications, has indefinitely postponed its IPO due to market conditions. The company had filed to sell 4.7 million common shares at between $14 and $16 per share, with Piper Jaffray and Banc of America Securities serving as co-lead underwriters.

 

Reliant Technologies has raised around $70 million in total VC funding since 2003, from Three Arch Partners (25.7% pre-IPO stake), Meritech Capital Partners (11%), Delphi Ventures (5.4%) and Pinnacle Ventures. www.reliant-tech.com