Medical device company Spinal Elements Holdings postpones $108 million IPO

Spinal Elements Holdings, which develops medical devices for minimally invasive spinal surgery procedures, postponed its IPO on Thursday, citing market conditions. It had filed to raise $108 million by offering 7.7 million shares at a price range of $13 to $15. 

Primary shareholders include Kohlberg & Company and CEO Jason Blain.

The Carlsbad, CA-based company was founded in 2003 and booked $93 million in sales for the 12 months ended June 30, 2020. It had planned to list on the Nasdaq under the symbol SPEL. Credit Suisse, Baird, Stifel, Truist Securities and BTIG were set to be the joint bookrunners on the deal.

The article Medical device company Spinal Elements Holdings postpones $108 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.

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