Electro-Optical Sciences sets talk on $33 million IPO at $10 to $12 per share

New York, July 15 - Electro-Optical Sciences Inc. set a pricing range of $10 to $12 per share for its planned $33 million initial public offering of common stock, according to an S-1/A filing with the Securities and Exchange Commission.

The Irvington, N.Y.-based medical device company plans to sell three million shares in the offering. There will also be a greenshoe for 450,000 shares available.

Ladenburg Thalmann & Co. Inc. and Stanford Group Co. are the underwriters.

The company has applied to list the stock on the Nasdaq National Market under the symbol "MELA."

Electro-Optical Sciences focuses on instruments used in the early diagnosis of melanoma.

It plans to use proceeds to from the IPO to fund research and development, including clinical studies, to build a sales and marketing force and for general corporate purposes, including working capital, facilities expansion and potential acquisitions.

After completion of the IPO, the company will have 9,513,164 shares outstanding.

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