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Spinal Elements Holdings Inc. has set terms of its initial public offering on Thursday, as the California-based spinal surgery device maker looks to raise up to $115.5 million.
The company SPEL, +1.53% is offering 7.7 million shares in the IPO, which is expected to price between $13 and $15 a share.
With about 27.15 million shares outstanding currently expected after the IPO, the expected pricing could value the company at up to $407.3 million.
The company expects its stock to list on the Nasdaq exchange under the ticker symbol “SPEL.” Credit Suisse, Baird and Stifel are the lead underwriters.
For the six months ended June 30, Spinal Elements recorded a net loss of $26.2 million on revenue of $42.7 million, after a loss of $29.5 million on revenue of $46.1 million in the year-ago period.
The company is looking to go public at a time that the Renaissance IPO ETF IPO, +2.51% has run up 24.3% year to date, while the S&P 500 SPX, +1.74% has gained 7.9%.
