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K2M Group Holdings closes its IPO

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K2M Group Holdings Inc. announced the closing of its IPO of 8,825,000 shares of common stock at a price to the public of $15 per share, according to a press release.

The company received net proceeds from the offering of approximately $120 million, after deducting underwriting discounts and estimated offering expenses.

According to the press release, the company used the funding to repay debts, outstanding borrowings, and to pay all accumulated and unpaid dividends on its Series A redeemable convertible preferred stock and its Series B redeemable convertible preferred stock that were converted to common stock upon consummation of the offering.