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SeaSpine begins trading on NASDAQ

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SeaSpine Holdings Corporation has announced the completion of its tax-free spinoff from Integra LifeSciences Holdings Corporation. As a result, SeaSpine shares have commenced trading on the NASDAQ Global Market as of today.

“Today marks a meaningful milestone for SeaSpine, as we reposition the company for innovation and growth,” Keith Valentine, president and CEO of SeaSpine, said in a company press release. “We are well-positioned in the spine market with a leading orthobiologics platform, a robust R&D pipeline with several novel product launches expected this calendar year, and a strong balance sheet with $47 million of cash and no debt post-spin to fund growth initiatives. We are confident in our ability to deliver long-term growth and value creation to our shareholders as an independent company.”

Each holder of Integra common stock as of the record date for the distribution received one share of SeaSpine common stock for every three shares of Integra common stock held, according to the release.

Reference: www.seaspine.com.