LDR announced it is planning a follow-on public offering of its common stock to raise $25 million.
Selling stockholders of the company expect to sell approximately $3.8 million shares of common stock in the offering.
The main purposes of the offering are to facilitate an orderly distribution of shares by the selling stockholders and to increase the public float of the company's shares.
LDR is a global medical device company focused on designing and commercializing spinal surgical technologies. It completed an initial public offering in October 2013, according to an Austin Business Journal report.
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