Oratec Interventions
This article was originally published in The Gray Sheet
Executive Summary
Initial public offering of 4 mil. shares at $14 each on April 5 grosses $56 mil. The Menlo Park, California firm markets the SpineCath intradiscal electrothermal therapy system and electrothermal arthroscopy system, and plans to use a portion of the IPO proceeds to expand marketing activities (1"The Gray Sheet" July 19, 1999, p. 11). Oratec shares trade on the Nasdaq exchange under the symbol "OTEC." Underwriters Merrill Lynch, J.P. Morgan and U.S. Bancorp Piper Jaffray hold an overallotment option for 600,000 additional shares