K2M closed its follow-on offering with net proceeds of approximately $35.9 million.
K2M sold 2.04 million shares of common stock in the offering at $18.75 per share. The proceeds of the primary portion of the offering will be used by the company for working capital and general corporate purposes, including the expansion of the K2M's global distribution network and the purchase of inventory.
Piper Jaffray & Co., Barclays Capital and Wells Fargo Securities are joint book-running managers for the offering.
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