Spinal device company K2M Group sets terms for $150 million IPO


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K2M Group Holdings, which develops and sells medical devices for use in spinal surgeries, announced terms for its IPO on Tuesday. The Leesburg, VA-based company plans to raise $150 million by offering about 8.8 million shares at a price range of $16 to $18. At the midpoint of the proposed range, it would command a fully diluted market value of $677 million.

K2M Group Holdings, which was founded in 2004 and booked $158 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol KTWO. It initially filed confidentially on January 24, 2014. Piper Jaffray, Barclays and Wells Fargo Securities 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

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