Thursday, December 18, 2008

ZONARE Drops IPO Bid

Mountain View-based ZONARE Medical Systems said Wednesday in a filing with the SEC that it is dropping its IPO bid. The firm, which filed for an IPO in July, blamed "current public market conditions" for the move. ZONARE was looking to raise up to $86.25M in an IPO on the NASDAQ. The firm's IPO was being underwritten by Citi, Piper Jaffray, Cowen and Company, and Canaccord Adams. ZONARE is venture backed by 3i, CB Healthcare Ventures, Draper Fisher Jurvetson, Earlybird Verwaltung GmbH, Frazier Healthcare Ventures, and Mosaix Ventures, among others.