K2M files follow-on offering registration statement — 7 things to know

Laura Dyrda -   Print  | Email

K2M filed a registration statement for a follow-on offering.

The spine device-focused company went public last year and has now filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed follow-on public offering of its common stock. Here are five things to know:


1. K2M hopes to raise around $40 million.


2. The selling stockholders named in the registration statement expect to sell 4.9 million shares of common stock in the offering. This includes a 30-day option to purchase additional common stock shares that is expected to be granted to the underwriters.


3. K2M will use the primary portion proceeds for working capital and general corporate purposes, which are expected to include:


• Expanding the company's global distribution network through hiring or contracting with qualified individuals
• Purchasing inventory to support sales efforts
• Acquiring or investing in complimentary products, technologies or businesses


4. The secondary offering's principal purposes are facilitating an orderly share distribution by selling stockholders and increasing the public float of the company's shares.


5. K2M will not receive any proceeds from common stock shares to be sold by the selling stockholders.


6. Joint book-running managers for the offering are Piper Jaffray & Co., Barclays Capital and Wells Fargo Securities.


7. Co-managers for the offering are William Blair & Company and Cowen and Company.


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