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Spinal implant manufacturer SI-BONE sets terms for $84 million IPO


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SI-BONE, which manufactures spinal implants for the alleviation of lower back pain, announced terms for its IPO on Friday.

The Santa Clara, CA-based company plans to raise $84 million by offering 6 million shares at a price range of $13 to $15. Insiders intend to purchase up to $32 million of the IPO (38% of the deal). At the midpoint of the proposed range, SI-BONE would command a fully diluted market value of $335 million. 

SI-BONE was founded in 2008 and booked $52 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol SIBN. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of October 15, 2018.

The article Spinal implant manufacturer SI-BONE sets terms for $84 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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