OrthoPediatrics launched its initial public offering of 4 million shares of common stock.
Here are six things to know:
1. OrthoPediatrics is granting underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock.
2. The proposed offering price is expected to range between $12 and $14 per share. OrthoPediatrics applied to list its common stock under the ticker symbol "KIDS."
3. The company plans to use the net proceeds from the offering to pay accumulated and unpaid dividends on its Series B preferred stock; invest in implants and instrument sets; fund research and development activities; and expand sales and marketing programs.
4. Piper Jaffray and Stifel are acting as joint book-running managers and William Blair is acting as lead manager. BTIF is the acting as co-manager of the proposed offering.
5. A registration statement relating to securities has been filed with SEC, but has not yet been become effective.
6. OrthoPediatrics is the only orthopedic company focused exclusively on pediatric orthopedics. The company currently markets 21 surgical systems.