Israeli medical device maker D. Medical Industries Ltd. priced its initial public offering of U.S.-listed shares below expectations, raising $10.5 million, the company said Thursday.
The company priced 1.5 million shares for $7 apiece. In a July filing with the Securities and Exchange Commission, the company had said it hoped to sell 2.7 million shares for $10 to $12 per share.
D. Medical makes insulin pumps for people with diabetes.
Shares of the company already trade on the Tel Aviv Stock Exchange in Israel. U.S. shares are expected to begin trading on the Nasdaq Thursday under the symbol "DMED."