Candela Medical to offer 14.7 million shares in IPO priced at $16 to $18 each

Candela Medical Inc. CDLA, , which makes devices for cosmetic surgery, set terms for its initial public offering on Tuesday, with plans to issue 14.7 million shares priced at $16 to $18 each. The company would raise $265 million at the top of that range, at a valuation of $1.7 billion. The company has applied to list on Nasdaq, under the ticker 'CDLA.' BofA Securities, Goldman Sachs and Barclays are lead underwriters in a syndicate of 10 banks working on the deal. "We are a leading provider of advanced medical device solutions for a broad range of aesthetic applications," the company says in its IPO documents. "Our brands and products have been recognized for their innovation and as leaders in the high growth medical aesthetics space for almost 40 years. " The deal comes at a time when the Renaissance IPO ETF IPO, +0.97% has gained 5.3% in the year to date, while the S&P 500 SPX, +0.42% has gained 19.5%.