K2M Group Holdings, Inc. Announces Pricing of Its Initial Public Offering
08 Mai 2014 - 3:19AM
K2M Group Holdings, Inc. (the "Company"), a global medical device
company focused on designing, developing and commercializing
innovative and proprietary complex spine technologies, techniques
and minimally invasive procedures, today announced the pricing of
its initial public offering of 8,825,000 shares of common stock at
a price of $15.00 per share. In addition, the selling stockholders
named in the registration statement have granted the underwriters a
30-day option from the date of the prospectus to purchase up to
1,323,750 additional shares of common stock at the initial public
offering price, less underwriting discounts. The Company will not
receive proceeds from any exercise by the underwriters of their
option to purchase additional shares from the selling stockholders.
The common stock is expected to begin trading on The NASDAQ
Global Select Market on May 8, 2014 under the trading symbol
"KTWO."
The Company expects to receive net proceeds from the offering of
approximately $120.0 million, after deducting underwriting
discounts and estimated offering expenses. The Company intends to
use the net proceeds from the offering to retire all indebtedness
outstanding under the notes held by certain of its shareholders, to
repay all of the outstanding borrowings under its asset-based
revolving credit facility, to pay all accumulated and unpaid
dividends on its Series A redeemable convertible preferred stock
and its Series B redeemable convertible preferred stock, and for
working capital and general corporate purposes.
Piper Jaffray & Co., Barclays Capital Inc. and Wells Fargo
Securities, LLC are acting as joint book-running managers for the
offering. William Blair & Company, L.L.C. and Cowen and
Company, LLC are acting as co-managers.
The offering of these securities will be made only by means of a
prospectus, copies of which may be obtained from Piper Jaffray
& Co., Attention: Equity Capital Markets, 800 Nicollet Mall,
J12S03, Minneapolis, MN, 55402, via telephone at 800-747-3924 or
email at prospectus@pjc.com; Barclays Capital Inc., Attention:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY, 11717, via telephone at 888-603-5847 or email at
Barclaysprospectus@broadridge.com; and Wells Fargo Securities, LLC,
Attention: Equity Syndicate Department, 375 Park Avenue, New York,
NY, 10152, via telephone at 800-326-5897 or email at
cmclientsupport@wellsfargo.com.
The registration statement relating to these securities has been
declared effective by the U.S. Securities and Exchange Commission
(the "SEC"). This news release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About K2M
K2M Group Holdings, Inc. is a global medical device company
focused on designing, developing and commercializing innovative
complex spine and minimally invasive spine technologies and
techniques used by spine surgeons to treat some of the most
difficult and challenging spinal pathologies. K2M has
leveraged these core competencies to bring to market an increasing
number of products for patients suffering from degenerative spinal
conditions. These technologies and techniques, in combination
with a robust product pipeline, enable the company to favorably
compete in the global spinal surgery market.
Forward-Looking Statements
Certain statements made in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws. Forward-looking statements are based on
management's expectations, estimates, projections, and
assumptions. These statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict. Therefore, actual future results and
trends may differ materially from what is forecast in
forward-looking statements due to a variety of
factors. Additional information regarding these factors is
contained in the Company's registration statement on Form S-1 filed
with the SEC.
CONTACT: Investor Contact
Westwicke Partners on behalf of K2M Group Holdings, Inc.
Mike Piccinino, CFA or Mark Klausner
443-213-0500
K2M@westwicke.com
K2M GROUP HOLDINGS, INC. (NASDAQ:KTWO)
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