Ellipse Technologies filed an amended S-1 form regarding an initial public offering, according to a 24/7 Wall Street report.
Here are six key notes:
1. There weren't any terms given for the filing. However, the offering is valued up to $75 million.
2. Ellipse Technologies plans to file on the Nasdaq Global Market with the symbol MGEC. The company's technology, MAGnetic External Control, or MAGEC, is used to adjust growing rods in young patients who need surgical correction.
3. Piper Jaffray, Canaccord Genuity, William Blair and Oppenheimer are underwriters for the IPO.
4. There is a global addressable market for Ellipse's commercial products at $1.2 billion in 2014.
5. Ellipse reported net revenue at $12 million in 2013 and $25 million in 2014; net losses were at $5.3 million in 2013 and $3.2 million in 2014.
6. The company expects to continue incurring net losses over the next few years, and as of Sept. 30, the accumulated deficit was $41.8 million, according to the report.