The amount it plans to raise through the IPO has increased. The original targeted amount was $100 million.
The company filed to raise the funds by offering 8.8 million shares of common stock at a proposed price range of $16 to $18 a share. The company plans to use the proceeds to pay outstanding indebtedness, accumulated dividends and unpaid dividends as well as for working capital and general corporate purposes, according to the report.
More Articles on Devices:
Mazor Robotics 2013 Net Loss Shoots to $20M
Advancement in Lateral Spine Technology: Q&A with Vertebral Technologies, Inc. CEO Dr. Jeffrey Felt
EDGE Orthopaedics Receives FDA 510(k) Clearance for BITE Compression Screws
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.