Share Price Is Set for Masimo Offering

Masimo Corp. said Tuesday that its underwriters have set its pending initial public offering at 5 million shares with a price range of $11 to $13 a share, a range that would fetch a total of $55 million to $65 million.

The offering, filed with the Securities and Exchange Commission, will constitute nearly 27% of the 18.6 million shares outstanding, suggesting a total market capitalization of up to $241.5 million for the Irvine maker of technologies and products for noninvasive monitoring of vital signs.

Those figures don’t include any added shares that underwriters are allowed to acquire. Also excluded are shares related to outstanding or potential options or warrants.

Two months ago, Masimo had filed a document saying it would seek to sell up to $69 million in common stock, but that filing had not provided details about the terms of the offering.