Aziyo Biologics, which makes regenerative medical products for various tissue types, announced terms for its IPO on Wednesday.
The Silver Spring, MD-based company plans to raise $50 million by offering 2.9 million shares at a price range of $16 to $18. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, Aziyo Biologics would command a fully diluted market value of $177 million.
Through its proprietary tissue processing platforms, the company has developed a portfolio of advanced regenerative medical products designed to be similar to natural biological material. Its core products are designed to address the implantable electronic device/cardiovascular, orthopedic/spinal repair, and soft tissue reconstruction markets.
Aziyo Biologics was founded in 2015 and booked $42 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol AZYO. Piper Sandler, Cowen, Cantor Fitzgerald and Truist Securities are the joint bookrunners on the deal. It is expected to price on Wednesday, October 7, 2020.
The article Regenerative medicine company Aziyo Biologics sets terms for $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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