Orthocell, a biotherapeutic technology company, has launched an initial public offering, according to a Health Point Capital report.
Here are three things to know:
1. Through the IPO, the company proposes to raise $8 million by offering 20 million shares at an offer price of $0.40 a share.
2. The company plans to use the proceeds to finalize the development of its CelGro product, a collagen-based scaffold for orthopedic applications as well as expand the reach of its Ortho-ATI and Ortho-ACI products.
3. KTM Capital and Azure Capital will act as lead bookrunners on the offering, while Shaw Stockbroking will act as co-manager.
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