Globus Medical files for IPO of up to $100 million
(Reuters) - Medical device company Globus Medical Inc filed with regulators on Thursday to raise up to $100 million in an initial public offering of common stock.
The Audubon, Pennsylvania-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus that BofA Merrill Lynch, Goldman Sachs, Piper Jaffray and Leerink Swann were lead underwriters to the IPO.
The company makes and commercializes products for patients with spine disorders.
Globus Medical recorded sales of $331.5 million in 2011, according to the regulatory filing.
The filing did not reveal how many shares the company planned to sell or their expected price.
Globus Medical said it plans to undertake a reverse stock split of its outstanding common stock immediately before the closing of the IPO.
The company intends to list its Class A common stock on the New York Stock Exchange under the symbol "GMED".
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Sharanya Hrishikesh in Bangalore; Editing by Sriraj Kalluvila)
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