Invuity files IPO to raise $69M — 6 important takeaways

Spinal Tech

Invuity filed to undertake an initial public offering, according to a Health Point Capital report.

Here are six takeaways from the filing:

 

1. Invuity filed for an IPO to raise $69 million.

 

2. The company plans to use the proceeds to expand sales, marketing and research and development to fund working capital and general purposes.

 

3. The price range and number of shares to be sold in the IPO has not yet been determined.

 

4. Invuity develops surgical devices that utilize advanced photonics. The devices aim to provide surgeons with direct illumination and improved visualization during minimally invasive and minimal access surgeries.

 

5. Invuity also recently completed a $20 million equity financing round. The financing round was led by Wellington Management Company.

 

6. In all, Invuity has raised $96.7 million from private placements of convertible preferred securities.

 

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