More from Renaissance Capital
Referenced Stocks

Globus Medical halves proposed IPO deal size

By Renaissance Capital,  August 02, 2012, 03:11:40 PM EDT

Globus Medical, which sells spine implants to hospitals for use in surgical procedures, lowered the proposed deal size for its upcoming IPO on Thursday. The Audubon, PA-based company now plans to raise $104 million by offering 8.3 million shares (75% insider) at a price range of $12.00 to $13.00. The company had previously filed to offer 11.8 million shares at a range of $16.00 to $18.00. At the midpoint of the revised range, Globus Medical will raise -48% fewer proceeds than previously anticipated. Globus Medical, which was founded in 2003 and booked $348 million in sales for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol GMED. BofA Merrill Lynch, Goldman Sachs and Piper Jaffray are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: News Headlines, IPOs

Referenced Stocks: GMED



Latest News Video

On Facebook IPO's Anniversary, a Look Back at the Year
On Facebook IPO's Anniversary, a Lo...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%