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EndoChoice goes public
Atlanta-based medtech company EndoChoice has announced the launch of its initial public offering of 6,250,000 shares of common stock representing 25.6% of its outstanding common stock after conversion into a Delaware corporation related to the offering, according to a press release.
Current cost per share is estimated to be between $15 and $17, the release said. The underwriters will have a 30-day option to buy up to 937,500 additional shares. The company has submitted an application to list the common stock on the New York Stock Exchange under the symbol “GI.”
J.P. Morgan and BofA Merrill Lynch are acting as joint lead book-running managers for the offering and William Blair and Stifel are acting as co-managers. A related registration statement has been filed with the Securities and Exchange Commission but is still pending, and until it becomes effective, offers to buy the securities cannot be accepted, the release said.