SynCardia Systems (TAHT) filed for an initial public offering of 2.5 million shares, to raise up to $30 million. The medical technology company, which makes temporary artificial hearts, expects the IPO to price between $10 and $12 a share. SynCardia has applied to have its stock listed on the Nasdaq Global Market under the ticker symbol "TAHT." Roth Capital Partners is the sole book-running manager of the IPO, while Maxim Group and Monarch Capital Group are co-managers. If the underwriters exercise options to purchase additional shares, SynCardia could raise up to $34.5 million. The company plans to use the proceeds from the IPO for research and development, for sales and distribution, to pay down debt and for general corporate purposes.
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