Xtent Aims to Raise $103.5 Million in IPO

Xtent Inc. has registered for an initial public offering of as much as $103.5 million in common stock, according to a filing with the Securities and Exchange Commission.

The Menlo Park, Calif.-based firm is a development-stage medical device company that hopes to market drug stent systems for the treatment of coronary artery disease.

Xtent didn’t disclose in its filing how many shares would be offered, nor did it provide an estimated price range for the IPO.

The company said it intended to use the net proceeds for clinical trials, research and development activities, building commercialization infrastructure, general corporate purposes and as working capital.

The company said it planned to list its stock on the Nasdaq Global Market under the ticker symbol XTNT.

In other IPO news, a company that provides online domain name registration withdrew plans Tuesday for a $200-million initial public offering, citing unfavorable market conditions.

Go Daddy Group Inc. of Scottsdale, Ariz. had planned to trade under the ticker symbol DADY.