Warsaw, Indiana-based OrthoPediatrics Corp, an orthopedic company focused on the pediatric orthopedic market, has priced its IPO of 4 million shares at between $12 and $14 per share. The stock will trade on the NASDAQ under the ticker symbol “KIDS.” Piper Jaffray and Stifel are the lead underwriters. OrthoPediatrics’ backers include Squadron Capital.
WARSAW, Ind., Oct. 02, 2017 (GLOBE NEWSWIRE) — OrthoPediatrics Corp. (“OrthoPediatrics”), an orthopedic company focused exclusively on providing a comprehensive product offering to the pediatric orthopedic market, announced today the launch of the initial public offering of 4,000,000 shares of its common stock. OrthoPediatrics will grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock. The proposed offering price is expected to be between $12.00 and $14.00 per share of common stock. OrthoPediatrics has applied to list its common stock on the NASDAQ Global Market under the ticker symbol “KIDS.”
OrthoPediatrics intends to use the net proceeds that it receives from the proposed offering to pay accumulated and unpaid dividends on its Series B preferred stock, to invest in implants and instrument sets for consignment to its customers, to fund research and development activities, to expand its sales and marketing programs, and for working capital and general corporate purposes.
Piper Jaffray and Stifel are acting as joint book-running managers, William Blair is acting as lead manager and BTIG is acting as co-manager, of the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the prospectus related to the proposed offering may be obtained from: Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicole Mall, J12S03, Minneapolis, MN 55402, via telephone at (800) 747-3924 or via email at email@example.com; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, via telephone at (415) 364-2720 or via email at firstname.lastname@example.org.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About OrthoPediatrics Corp.
Founded in 2006, OrthoPediatrics is the only orthopedic company focused exclusively on providing a comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets 21 surgical systems that serve three of the largest categories within the pediatric orthopedic market. This offering spans trauma & deformity, complex spine and ACL reconstruction procedures. OrthoPediatrics’ global sales organization is focused exclusively on pediatric orthopedics and distributes its products to 35 countries outside the United States.