Metabasis amends IPO

Metabasis (San Diego, Calif.) again amended its proposed IPO and now hopes to sell 5 million shares at $7-$8 through SG Cowen; Deutsche Bank; Thomas Weisel; and Legg Mason. A $7.50 deal price would raise $37.5 million and value Metabasis at $134.3 million. In February, the company originally proposed to raise up to $86.3 million. It amended the deal last month to sell 6 million shares at $11-$13 and last week amended the deal to sell 5 million shares at $8-$9. ...