NuVasive completes IPO (initial public offering) for $71.5million:
This article was originally published in Clinica
Executive Summary
NuVasive, the San Diego, California-based developer of minimally invasive spine surgery products, has priced its IPO at $11 per share. The company is offering 6.5 million shares, valuing the offering at $71.5m before over-allotments. The original price range was expected to be $11-13 per share. The company recently amended its SEC registration document to raise the upper limit of the offering including over-allotments to $97.1m from $92m. The company had sales of $22.7m in 2003, but is still loss-making.