K2M has been the talk of the town since filing its initial public offering earlier this year. CEO Eric Major appeared on the NASDAQ CEO Signature Series podcast to discuss the company’s growth.
Piper Jaffray, Barclays and Wells Fargo Securities are the joint underwriters on the IPO and William Blair & Company and Cowen and Company are acting as co-managers. K2M initially planned on raising up to $100 million through its IPO, but raised that number to between $141 million and $159 million. The company closed its IPO with net proceeds of approximately $120 million after deducting underwriting discounts and estimated offering expenses on May 13.
The spine device market is a $10 billion market, split into several subsections K2M hopes to capture as the company grows. Founded as a small company focused on minimally invasive treatment for complex and degenerative disorders, K2M released 11 new products since 2011 and doesn’t plan on slowing down.
