Lumera slips after trading begins

July 23, 2004 — Lumera Corp. (Nasdaq: LMRA, Web), a Bothell, Wash.-based developer of nano-enhanced polymer materials for a variety of industries, began trading at noon today and quickly slipped about 50 cents within the first hour of trading.

The company priced its 6 million-share offering at $6.95, according to a news release issued Thursday. The stock went up briefly after trading began, hitting $7.10 before sliding to $6.48 on volume of just over 1.1 million shares at 12:44 p.m.

The company upped its price estimate to between $6.50 and $7.50 per share. Originally, it had predicted a 5 million-share offering between $5 and $6 per share.

The underwriting syndicate is being led by Paulson Investment Company Inc. I-Bankers Securities Inc. is acting as co-manager.

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