Globus Medical sets terms for $200 million US IPO

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Globus Medical, which designs products to improve spinal surgery outcomes, announced terms for its IPO on Monday. The Audubon, PA-based company plans to raise $200 million by offering 11.8 million shares (75% insider) at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Globus Medical would command a market value of $1.6 billion.

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 Nasdaq, Inc.



This article appears in: News Headlines IPOs
Referenced Stocks: GMED


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