Financial

Amedica Lowers IPO Price Range

Amedica lowers the price range for its impending initial public offering, but boosts the number of shares it plans to offer.

Salt Lake City-based Amedica, which makes silicon nitride-based biomaterials for medical devices, said it plans to trade under the AMDA symbol on the NASDAQ exchange. The IPO, initially slated at nearly 3.2 million shares at $10 to $12 apiece, is now expected to run between $8 and $10 per share, with 3.5 million shares on offer.

The low end of the new price range would see Amedica raise 20% less than anticipated, about $28 million; at the high end, the IPO would still fetch the $35 million Amedica was seeking.

Amedica’s products are aimed at the orthopedic and spinal markets. The company makes interbody devices used in spinal fusion procedures; their semi-radiolucent silicon nitride material is designed to promote bone growth and help prevent infection.

Read More: http://www.massdevice.com/news/amedica-lowers-ipo-price-range-boosts-shares-offer

Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

Related Articles

Back to top button