Tornier B.V. files for up to $205 mln IPO
* Expects to trade on Nasdaq Global Markets under symbol “TRNX”
(Reuters) – Medical device company Tornier B.V. filed with the U.S. regulators on Tuesday to raise up to $205 million in an initial public offering.
The Netherlands-based company said it will use the net proceeds to repay debt. It may use the proceeds to acquire other businesses, products or technologies, the company added.
For the first quarter, net loss attributable to common stockholders was $10 million, or 14 cents a share, compared with a loss of $3.5 million, or 5 cents a share, in the same period last year.
The company said it is focused on surgeons that treat musculoskeletal injuries and disorders of the shoulder, elbow, wrist, hand, ankle and foot.
In some international markets, the company also offers joint replacement products for the hip and knee, Tornier said, which sells over 70 product lines in about 35 countries.
The underwriters on the offering are being led by Merrill Lynch, Pierce, Fenner & Smith Inc and J.P. Morgan Securities.
The company is expected to trade on Nasdaq Global Market under the symbol “TRNX.” (Reporting by Archana Shankar in Bangalore; Editing by Jarshad Kakkrakandy)