Ophthalmic medical device maker Avedro sets terms for $75 million IPO

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Avedro, which sells ophthalmic medical systems used in treating corneal disorders, announced terms for its IPO on Monday.

The Waltham, MA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Avedro would command a fully diluted market value of $290 million.

Avedro was founded in 2002 and booked $24 million in sales for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol AVDR. BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of February 11, 2019.

The article Ophthalmic medical device maker Avedro sets terms for $75 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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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