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The Associated Press August 13, 2010, 9:32AM ET

Electromed prices shares of IPO at $4 each

Electromed Inc., which makes a device that helps lung disease patients breathe, raised $6.8 million in an initial public offering, the company said Friday.

The New Prague, Minn., company priced 1.7 million shares for $4 each, at the bottom of the expected price range of $4 to $6.

Electromed had previously said it planned to offer 2 million shares.

Shares are expected to begin trading under the symbol "ELMD" on the Nasdaq Capital Market Friday.

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