Trans1 Inc., a Wilmington, N.C.-based developer of a surgical device for treating a degenerative disc disease affecting the lower lumbar region of the spine, has set its IPO terms to 5.5 million common shares being offered at between $12 and $14 per share. The company's initial market cap would be approximately $262.87 million, if it were to price at the high end of its offering range. Trans1 plans to trade on the Nasdaq under ticker symbol TSON, with Lehman Brothers and Piper Jaffray serving as co-lead underwriters.
It has raised around $40 million in VC funding since 2000, from firms like Advanced Technology Ventures (19.5% pre-IPO stake), Delphi Ventures (16.3%), Cutlass Capital (15%), Sapient Capital (12%) and Thomas Weisel Healthcare Venture Partners (7.2%). www.trans1inc.com