Alamar Biosciences Inc. is optimistic about breaking into thecool initial public offering (IPO) market this fall, afterswitching underwriters and cutting the proposed price of itsunit offering.

Alamar of Sacramento, Calif., said it signed a letter of intentfor Commonwealth Associates of New York to serve asunderwriter for the planned $4.3 million offering. The offeringis for 850,000 units, each consisting of a share of commonstock and a five-year warrant to purchase an additional shareat $7.50, priced at $5 each.

The company announced in June plans to go public with an IPOof 850,000 units at $6 each. The underwriter then was PaulsonInvestment Co. of Portland, Ore.

Alamar makes disposable diagnostic tests that detect diseaseand help physicians in adjusting the type and dosages of drugsused to treat infection.

(c) 1997 American Health Consultants. All rights reserved.

No Comments