Globus Medical Inc Cuts IPO Size, Expected Price Range-Reuters

Thursday, 2 Aug 2012 02:57pm EDT 

Reuters reported that Globus Medical Inc cut the size and expected price range of its Initial Public Offering (IPO) as the IPO market continues to see poor pricing, pulled deals and delayed offerings. The Company, which is expected to price its IPO on August 02, 2012 evening, now plans to sell 8.3 million shares between $12 and $13 per share. The Company had earlier expected to sell 11.8 million shares in a price range of $16 to $18 per share. The Company plans to list its Class A common stock on the New York Stock Exchange under the symbol GMED. It intends to use the proceeds from the offering to expand its sales and for investments in research and development. BofA Merrill Lynch, Goldman Sachs and Piper Jaffray are among the underwriters of the offering. 

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