7 things to know about Ellipse Technologies' $75M IPO

Spinal Tech

Ellipse Technologies filed for an initial public offering, according to a Health Point Capital report.

Here are five key notes:

 

1. The company filed an S-1 to raise $75 million through the IPO.

 

2. Ellipse will use the proceeds to expand sales and marketing as well as research and development initiatives. The company also plans to pay down its term loan credit facility and generate working capital.

 

3. Ellipse could also potentially use the proceeds to acquire or invest in complementary products, technologies or businesses, according to the report.

 

4. The number of shares sold and price range aren't determined yet.

 

5. Ellipse Technologies focuses on the MAGEC-EOS spinal bracing and distraction system as well as the PRECICE limb lengthening system. The systems have treated more than 4,000 patients worldwide.

 

6. The company will list on the NADAQ Global Market under MGEC.

 

7. Piper Jaffray, William Blair and Canaccord are acting as lead bookrunners. Oppenheimer is serving as co-manager.

 

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