The company previously announced the offering, and now updated information with the share price.
Here are five quick facts about the follow-on offering:
• There will be around 6 million company shares sold
• K2M is selling more than 2 million shares of common stock
• Stockholders named in the registration statement are selling 4 million common stock shares
• Certain stockholders granted underwriters a 30-day option to purchase up to 906,748 additional common stock shares
• The joint book-running managers for the offering are Piper Jaffray, Barclays and Wells Fargo Securities, and the co-managers are William Blair & Company and Cowen and Company
K2M plans to use the primary portion of the offering for working capital and general corporate purposes, including the global distribution network and purchasing inventory to support sales efforts. The company may also use the proceeds to acquire complementary products or invest in products.
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