By Colin Kellaher

Sondors Inc. on Tuesday reduced the expected price range of its planned initial public offering of 2.5 million to shares to $6 to $8 each from a previous target of $8 to $10 apiece.

At the $7 midpoint of the new price range, the Malibu, Calif., maker of electric bicycles and motorcycles, said it expects net proceeds of about $15.2 million, or roughly $17.7 million if the underwriters exercise an option to buy an additional 375,000 shares.