Shares of Aliso Viejo medical device maker SenoRx Inc. debuted Thursday, closing 12% above their twice-reduced asking price.
SenoRx sold 5.5 million shares at $8, raising about $45 million. The company has a market value of $130 million.
The company cut its expected price range two times before going public. SenoRx first was hoping to sell shares at $11 to $13, raising as much as $70 million. Then it cut its price range to $9 to $10 the night before the shares went out.
Before it started trading Thursday, SenoRx cut its price to $8.
The company’s main device, EnCor, allows doctors to obtain multiple breast biopsy samples through a single-probe insertion.
SenoRx received regulatory clearance for EnCor in 2004 and started selling it last November.
The company’s debut is the first initial public offering for Orange County in 2007.
Four companies went public last year, raising a combined $266 million.
This week, Seal Beach-based Clean Energy Fuels Inc. upped the size of its pending public offering to $345 million from $287.5 million.
The offering stands to be one of the larger ones for OC in recent years. A date hasn’t been set yet.
Clean Energy, which provides natural gas for buses and other fleet vehicles, plans to stage an “OpenIPO” where the price and allocation of shares will be set in an auction done by the underwriters and other securities dealers.
The company is backed by legendary oilman T. Boone Pickens.
