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In Brief: Nutrition Medical IPO

This article was originally published in The Tan Sheet

Executive Summary

Nutrition Medical IPO: Expects to raise $3.9 mil. from initial public offering of 1.25 mil. shares of common stock at $3.50 per share. The company has granted the underwriter, Miller, Johnson & Kuehn, an option to purchase up to 187,500 more shares to cover over-allotments. Nutrition Medical has applied for trading on the Nasdaq SmallCap Market under the symbol "NMED." The firm markets three private-label nutrition products, each in vanilla, strawberry and chocolate flavors, that it says are "equivalent in quality and efficacy to leading national brands" such as Ross Labs' Ensure. The products sell in nine retail chains comprising 5,000 stores nationwide. Nutrition Medical also sells six generic critical care nutrition products in the hospital/nursing home market. The company is developing an infant formula, which is at least a year away from the market. The Minneapolis-based firm was incorporated in 1993...
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