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OrthoPediatrics launches initial public offering

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OrthoPediatrics Corp. announced the launch of an initial public offering of 4,000,000 shares of its common stock, according to a company press release.

The company will give underwriters a 30-day option to purchase an additional 600,000 shares of its common stock. The proposed offering price is expected to be between $12 and $14 per share. OrthoPediatrics has applied to list the common stock on the NASDAQ Global Market with the ticker symbol “KIDS.”

According to the release, the company will use the net proceeds from the proposed offering to pay accumulated and unpaid dividends on its Series B preferred stock and to invest in implants and instrument sets. The proceeds will also fund research and development activities, expand sales and marketing, and for working capital and general corporate purposes.

Joint book-running managers of the proposed offering are Piper Jaffray and Stifel, lead manager is William Blair and co-manager is BTIG. The offering will be made only by a prospectus.

Reference:

www.orthopediatrics.com/