Inogen, Inc. announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be sold and the price range for the proposed offering have not yet been determined.
Inogen, a maker of portable oxygen concentrators, has filed for an initial public offering to raise up to $86.2 million. Inogen was founded in 2001 by three UC Santa Barbara students, one of whom had a grandmother who had recently been placed on oxygen therapy. After winning a business plan contest at UCSB, the team went on to develop a device that used electricity to concentrate oxygen from the air. The concentrators were lighter and less bulky than traditional systems, weighting between 4.8 and 7 pounds.