Spinal Elements Announces Launch of Initial Public Offering
October 08 2020 - 7:06AM
Spinal Elements Holdings, Inc. (“Spinal Elements”), a CA-based
spine technology company, today announced the launch of its initial
public offering of 7,700,000 shares of its common stock at an
anticipated initial public offering price between $13.00 and $15.00
per share pursuant to a registration statement filed by the Company
with the U.S. Securities and Exchange Commission (the “SEC”). The
Company expects to grant the underwriters a 30-day option to
purchase up to an additional 1,155,000 shares of common stock at
the initial public offering price less the underwriting discounts
and commissions. Spinal Elements intends to list its common stock
on the NASDAQ Global Market under the ticker symbol “SPEL.”
In addition to the shares of common stock sold in the public
offering, entities affiliated with Kohlberg & Co., L.L.C., the
Company’s majority shareholder, have indicated an interest in
purchasing 6,000,000 shares of common stock in a private placement
exempt from the registration requirements of the Securities Act of
1933, as amended, at a price per share equal to the public offering
price. The underwritten public offering is not contingent on the
private placement.
Credit Suisse, Baird, and Stifel are acting as the joint
book-running managers and as representatives of the underwriters
for the offering. Truist Securities and BTIG are acting as
book-running managers for the offering. Siebert Williams Shank is
acting as co-manager for the offering.
The offering of the securities in the initial public offering
will be made only by means of a prospectus. Copies of the
preliminary prospectus may be obtained from:
- Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, 6933 Louis Stephens Drive, Morrisville, North Carolina
27560, by telephone at (800) 221-1037 or by email
at usa.prospectus@credit-suisse.com;
- Robert W. Baird & Co. Incorporated, Attention: Syndicate
Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, by
telephone at 800-792-2473, or by email at syndicate@rwbaird.com;
or
- Stifel, Nicolaus & Company Incorporated, Attention:
Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA
94104, by telephone at 415-364-2720 or by email at
syndprospectus@stifel.com.
A registration statement, including a prospectus, which is
preliminary and subject to completion, relating to the initial
public offering has been publicly filed with the SEC but has not
yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration
statement becomes effective. This press release does not constitute
an offer to sell or the solicitation of an offer to buy securities,
and shall not constitute an offer, solicitation, or sale in any
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of that jurisdiction.
About Spinal Elements
A leading designer, developer, manufacturer, and marketer of
innovative medical devices used in spinal surgical procedures,
Spinal Elements combines leading medical device technologies,
biologics, and instrumentation to create positive surgical outcomes
that exceed surgeon and patient expectations. Spinal Elements has
built a reputation delivering innovative and differentiated
technologies that enable fundamental shifts in solutions for spine
surgery. The company markets a complete portfolio of advanced
spinal implant technologies. Spinal Elements is a technology-driven
company headquartered in Carlsbad, California.
Forward-Looking and Cautionary StatementsThis
press release contains statements that constitute “forward-looking
statements,” including with respect to the proposed initial public
offering and the concurrent private placement. No assurance can be
given that the offering discussed above will be completed on the
terms described, or at all. Forward-looking statements are subject
to numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s registration statement and preliminary prospectus for
the Company’s offering filed with the SEC. Copies are available on
the SEC’s website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Investor Contact:Greg ChodaczekGilmartin Group
LLC347-620-7010investors@spinalelements.com
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